Crypto-related equities, including Bitcoin, plummeted as Bitcoin hit a seven-month low near $85,065, dragging the entire crypto-stock basket down. Mawson Infrastructure Group briefly surged amidst the sell-off due to mechanical reasons, not investor enthusiasm. The company shifted focus from Bitcoin mining to AI/HPC services for recurring revenue.

Mawson Infrastructure faced a turbulent year, with creditors filing an involuntary Chapter 11 petition against the company, which was later dismissed by a Delaware court. The company also faced Nasdaq delisting risk, prompting a 1-for-20 reverse stock split to meet minimum bid requirements. Post-split, Mawson’s stock price surged temporarily before correcting downwards.

Read more at Yahoo Finance: Mysterious stock surged 2,600% despite Bitcoin’s crash