StocksMedium•5 November 2026•
1 min read
Applied Digital and Data Center Stocks Sink on Texas Regulatory and Financing Fears
Key Facts
1Applied Digital shares plunged 17% to $13.74 amid deepening fears over data center financing and Texas political risks.
2Cipher Mining and TeraWulf shares sank 14% and 13% respectively as concerns grow over crypto miners pivoting to AI data centers.
Applied Digital shares plunged 17% to $13.74 according to 24/7 Wall St., driven by deepening fears over data center financing and political risks in Texas. The sell-off extended to crypto miners pivoting to AI infrastructure, with Cipher Mining and TeraWulf shares sinking 14% and 13% respectively.
Applied Digital closed at $16.61 on November 4, 2026, while Cipher Mining closed at $6.5 and TeraWulf at $11.7 on the same date. The decline follows comments from Applied Digital CEO Wes Cummins regarding the need to finance approximately 800 megawatts of capacity over the next year, alongside emerging regulatory uncertainty in Texas affecting data center approvals.