The cryptocurrency was last down 1.4% to $63,890.0
Bitcoin retreated on Tuesday and briefly slid below $62,000, as a sell-off in artificial intelligence-linked technology stocks spilled over into cryptocurrencies.
The cryptocurrency was last down 1.4% to $63,890.0 by 21:25 GMT.
The cryptocurrency selloff coincided with a sharp drop in Asian technology stocks, led by KOSPI, which plunged more than 10%, as investors dumped AI-related chipmakers.
Samsung Electronics and SK Hynix shares dropped sharply amid concerns over the sustainability of massive AI infrastructure spending, while intensifying competition from Chinese memory-chip makers further weighed on sentiment.
Market participants also remained cautious ahead of the conclusion of the U.S. central bank’s two-day meeting on Wednesday.
Bitcoin has struggled to sustain its recovery after rebounding from earlier lows this month, with recent gains undermined by continued outflows from U.S.-listed spot Bitcoin exchange-traded funds.
AMD has struck a deal with Core Scientific to secure as much as 2.5 gigawatts of data-centre capacity, part of the chipmaker’s push to expand infrastructure for AI computing.
Demand for power, land and data-centre space has jumped as cloud providers and enterprises pour money into AI infrastructure.
Under the agreement, AMD will receive warrants priced at market rates to buy Core Scientific common stock, contingent on certain commercial conditions. The companies didn’t disclose financial terms. The deal gives AMD access to more than 500 megawatts of AI-ready capacity at Core Scientific starting in 2027, which AMD’s customers can tap to run AI systems. That capacity could grow to 2.5 gigawatts over time.
Core Scientific, which has been pivoting away from crypto mining toward hosting AI and high-performance computing workloads, will also collaborate with AMD on physical infrastructure design and the rollout of its chips and software.
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