Crypto markets are experiencing a significant sell-off impacting balance sheets, ETFs, and infrastructure usage during market downturns. BitMine Immersion Technologies faces mounting paper losses due to Ether’s decline below $2,200. BlackRock’s iShares Bitcoin Trust investors now hold negative returns as Bitcoin falls below $80,000. A US winter storm severely affected Bitcoin miner production, causing a sharp decline in output. CoreWeave’s transition from crypto mining to AI infrastructure exemplifies the repurposing of mining-era hardware for AI data centers, showcasing the evolution of computing resources across technology cycles.

Read more at Coin Telegraph: Sell-Off Hits Treasuries, ETFs and Mining Infrastructure