WULF, RIOT, and HUT shares surge as AI-driven demand lifts Bitcoin miners

crypthub

about 13 hours ago

Market Surge

Bitcoin mining stocks rallied sharply as investors linked them to the AI boom, with TeraWulf up 17% and several peers gaining over 5%. The climb coincided with the S&P 500 surpassing 7,500 and the Philadelphia Semiconductor Index rising 5.6%, nearly 77% YTD. Strong tech and chip momentum is spilling over to miners, highlighting their extensive energy assets.

AI Interest in Mining

Analysts note that publicly traded miners control about 27 GW of power, a key bottleneck for scaling AI infrastructure. Their existing electricity supply and industrial cooling give them a strategic edge over AI startups and cloud providers. IREN’s partnership with Microsoft exemplifies the shift, projecting up to $3.7 billion in annual AI cloud revenue. Diversifying into AI offers a steadier income stream than volatile crypto mining profits.

Challenges of the Pivot

Transforming ASIC‑optimized mining farms into GPU‑heavy AI data centers demands new cooling, networking, and higher power density. Industry estimates place conversion timelines at six to twelve months with substantial capital outlay. Core Scientific’s bankruptcy and later AI re‑positioning illustrate the difficulty of the transition. Investors must weigh the promise of AI demand against the risk of delayed or costly infrastructure upgrades.