WGMI surged 97% while bitcoin dropped 46%, as CORZ and RIOT pivoted from mining to signing multi-billion-dollar AI infrastructure leases. Investors wanting direct bitcoin exposure should use IBIT, not WGMI, which now behaves as an AI infrastructure landlord, not a crypto proxy. Hyperscaler capex from NVIDIA and Microsoft now drives WGMI more than bitcoin, as the fund's bull case rests on 15-year AI leases.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first.
Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today. The Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is up 97% over the past year even though bitcoin has lost 46% of its value in the same window.
The divergence has one cause: WGMI holds bitcoin miners, and the miners have quietly stopped being bitcoin miners. AI leasing deals at Riot, Core Scientific, and IREN have decoupled WGMI from the coin it was designed around, and anyone still treating this fund as a leveraged BTC proxy is looking at something that no longer behaves that way. WGMI is an actively managed basket of publicly traded miners.
Shares recently traded near $53, up 38% YTD. Bitcoin sits around $63,000, down 28% YTD. Riot Platforms (NASDAQ:RIOT) reported its cost to mine one bitcoin reached 70% of production value last quarter, up from 50% a year earlier.
Mining alone would sink these companies. AI leasing is why the shares have moved the other way. Most Americans suspect they're behind on retirement and never find out.
Extract — continue reading at the source.
