BlockBeats News, May 28th, 10x Research reported that as the demand for AI infrastructure grows rapidly, Bitcoin mining companies are accelerating their transformation into AI infrastructure companies. Its Crypto Stock Basket Index has risen by 56% this year, while BTC has fallen by 17% during the same period. This week, BTC came under pressure due to the surge in U.S. bond yields and the market's increasing hawkish expectations for the Fed. Institutional funds continued to withdraw from non-yielding assets, and the BlackRock Bitcoin ETF also saw significant outflows.

Meanwhile, mining companies and AI infrastructure concept stocks soared. KEEL rose by 30% this week, CIFR and IREN both rose by 29%, WULF rose by 24%, and HUT rose by 22%. 10x Research pointed out that several key events this week indicate that mining companies' transition to AI is accelerating, including IREN's acquisition of the $1.6 billion Dell Blackwell system; TeraWulf's acquisition of a 1GW facility in Kentucky; and Hut 8's signing of a $9.8 billion leasing agreement in Texas.

On a macro level, as expectations for an Iran ceasefire rise, the safe-haven demand for gold has cooled off, and the U.S. 10-year Treasury yield has fallen back to the 4.47%-4.50% range. The market is now awaiting PCE data and Federal Reserve Chairman Wash's first FOMC meeting.