Mining Stocks Jump 20% as Amazon’s $50B AI Push Boosts Demand for Power

Crypto mining stocks, including BitMine and Cipher Mining, experienced significant gains, with some jumping nearly 20%, after Amazon announced plans to invest up to $50 billion in AI infrastructure for U.S. government agencies. This rally reflects a strategic pivot where Bitcoin miners, facing profitability challenges post-halving, are transforming their established, grid-integrated power infrastructure to support the soaring demand from AI data centers. Tech giants like Amazon and Meta are aggressively pursuing these energy resources, exemplified by Amazon's $50 billion plan adding 1.3 gigawatts and Meta seeking electricity trading rights. Miners like IREN have already secured massive data center deals, seeing their power capacity become a key asset for tech firms needing rapid AI scale, positioning them as crucial AI power players.

(Source：BeInCrypto)