IREN, Cipher Mining (CIFR) and Hut 8 (HUT) could be set to add to AI-related gains
Bitcoin miners pivoting to AI hosting, like IREN, CIFR, and HUT, are seeing significant stock gains following strong AI spending forecasts from Meta and Microsoft.Summary
Shares of bitcoin mining companies that have successfully pivoted their business models to host Artificial Intelligence (AI) infrastructure saw substantial gains, a trend expected to continue based on recent earnings reports from tech giants Meta and Microsoft. Both companies signaled massive, ongoing investment in AI; Meta forecasted 2026 capital spending between $115 billion and $135 billion. Facing pressure from the bitcoin halving, increased competition, and higher power costs, miners like IREN, Cipher Mining (CIFR), and Hut 8 (HUT) have diversified revenue by hosting AI and cloud computing workloads in their data centers. IREN secured a multiyear cloud contract with Microsoft for AI workloads, while CIFR committed 300 megawatts to Amazon Web Services (AWS). These strategic shifts have resulted in significant year-over-year stock appreciation for these miners, with the sustainability of this optimism pending Nvidia's next earnings report.
(Source：CoinDesk)