Hut 8, IREN deals lift AI-focused Bitcoin mining stocks Bitcoin miners rallied as investors cheered multi-billion-dollar AI infrastructure contracts, underscoring the sector’s accelerating shift toward data centers and cloud computing.
Shares of several Bitcoin mining companies surged Monday after Hut 8 and IREN announced major AI infrastructure deals, reinforcing investor optimism around miners expanding into artificial intelligence and high-performance computing
IREN, Cipher Digital, CleanSpark, Hut 8 and MARA Holdings each gained at least 11% in early Monday trading. The rally followed Hut 8’s announcement of a 15-year, $9.8 billion lease for its AI data center campus and IREN’s disclosure of $2.8 billion in cloud services contracts with AI developers. Both companies began as Bitcoin (BTC) miners before accelerating a pivot toward AI infrastructure and cloud computing as mining economics weakened.
IREN now expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026. The rally was reflected in The Energy Mag’s TEM AI Infrastructure Growth Index, which tracks 20 companies spanning the Bitcoin mining, neocloud and AI infrastructure sectors. The index rose 1.4% on Monday and is up more than 12% over the past week.