CoinShares Mining ETF has been on a good sized run, locking in gains of over 150% over the last year. This ETF gives investors exposure to the public companies running the heavy infrastructure behind the Bitcoin network and my main interest in it is because now they are also starting to open up their facilities to AI processors as well.
Fundamentally, the momentum here has been driven by broader crypto strength and a smart pivot by these mining companies. Many of them are repurposing their high-performance computing power to supply the booming AI and data center markets. The recent pullback looks like standard profit-taking mixed with some natural volatility in Bitcoin itself. Squeezes in mining profitability might be causing some short-term pain, but the shift towards diversified AI revenue remains a solid business case.
Technically, the price action is setting up right where you want to see it. The ETF has pulled back deeply and is now sitting directly inside a major support area between $36 and $40. The RSI has completely reset from previous overbought levels and is holding steady at a neutral 45. While the MACD is still technically negative, the histogram is clearly flattening out. That tells us the heavy selling pressure is hopefully fading and downside momentum is drying up. We are seeing early signs of consolidation here before a potential move higher.
Could be one to keep an eye on.
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PLEASE NOTE: Nothing I post is trading advice. All investing involves risk, and past performance doesn’t predict future results. Trends can and do end. For 2026, my goal is to try and post one new asset each trading day. Something outside the usual gold, silver, BTC, or big tech names. I like to find stocks worldwide showing steady trends with some good gains, a recent pullback, and signs of renewed strength. I don’t necessarily hold positions in these. They are simply companies I find interesting at the time of posting. I’ll often revisit them within a week to see how they went and share any updates. If you enjoy these posts, please BOOST and FOLLOW ME to discover more under-the-radar stocks and businesses from around the world.
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Fundamentally, the momentum here has been driven by broader crypto strength and a smart pivot by these mining companies. Many of them are repurposing their high-performance computing power to supply the booming AI and data center markets. The recent pullback looks like standard profit-taking mixed with some natural volatility in Bitcoin itself. Squeezes in mining profitability might be causing some short-term pain, but the shift towards diversified AI revenue remains a solid business case.
Technically, the price action is setting up right where you want to see it. The ETF has pulled back deeply and is now sitting directly inside a major support area between $36 and $40. The RSI has completely reset from previous overbought levels and is holding steady at a neutral 45. While the MACD is still technically negative, the histogram is clearly flattening out. That tells us the heavy selling pressure is hopefully fading and downside momentum is drying up. We are seeing early signs of consolidation here before a potential move higher.
Could be one to keep an eye on.
..................................................
PLEASE NOTE: Nothing I post is trading advice. All investing involves risk, and past performance doesn’t predict future results. Trends can and do end. For 2026, my goal is to try and post one new asset each trading day. Something outside the usual gold, silver, BTC, or big tech names. I like to find stocks worldwide showing steady trends with some good gains, a recent pullback, and signs of renewed strength. I don’t necessarily hold positions in these. They are simply companies I find interesting at the time of posting. I’ll often revisit them within a week to see how they went and share any updates. If you enjoy these posts, please BOOST and FOLLOW ME to discover more under-the-radar stocks and businesses from around the world.
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Catatan
Thought I'd add some examples of some of the deals being done now that there has been a big shift in the sector over the last year. Many of these Bitcoin miners realized they control exactly what AI companies are desperate for such as permitted land, heavy power access, and advanced cooling systems. They are effectively pivoting to become high-performance data center landlords.Here are a few major deals and shifts from late 2025 and early 2026 involving companies held in the WGMI ETF.
- Hut 8 (HUT) and Anthropic: In December 2025, Hut 8 signed a 15-year lease agreement valued at roughly $7 billion. They partnered with AI developer Anthropic and cloud provider Fluidstack to build a massive AI-focused data center in Louisiana. Google is even providing a financial backstop for the lease payments.
- Core Scientific (CORZ) and CoreWeave: Core Scientific has been aggressively shifting its focus. In mid-2025, AI hyperscaler CoreWeave announced plans to acquire Core Scientific in a $9 billion all-stock deal simply to secure its infrastructure. Prior to that offer, CoreWeave had already signed hosting contracts with them worth over $8 billion.
- TeraWulf (WULF): Late last year, TeraWulf made it clear that high-performance computing is now its primary growth engine. They have already locked in over $12 billion in long-term customer contracts to host AI and computing workloads.
- IREN: Formerly Iris Energy, this company has committed heavily to the AI transition. By the end of 2025, they had nearly 100,000 GPUs installed or on order. They are currently liquidating the Bitcoin they mine daily to fund this massive AI infrastructure buildout.
These deals are now bringing in predictable, long-term revenue to these businesses. That stability is exactly why we are seeing strong momentum in these stocks, as investors start valuing them as infrastructure companies rather than just crypto plays.
Catatan
Promising that it tried to push higher today before dropping back.Catatan
Ranging quite widely. No breakout yet. 
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NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.
MY CUSTOM INDICATOR TO FIND TRAILING STOPS: SuperTrail.io
MY YOUTUBE CHANNEL WITH TRADINGVIEW TIPS: YouTube.com/@zAngus
MY CUSTOM INDICATOR TO FIND TRAILING STOPS: SuperTrail.io
MY YOUTUBE CHANNEL WITH TRADINGVIEW TIPS: YouTube.com/@zAngus
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.