Bitcoin has not been doing well over the past month, continuing to fall after falling below $100,000. Crypto mining stocks also felt the pain as their profits are heavily tied to Bitcoin, but some of the same stocks could still rise due to their involvement in artificial intelligence and other initiatives.
These 3 Crypto Mining Stocks Could Still Rise Despite Bitcoin’s Correction. A future rebound in Bitcoin is also a good trigger for these stock picks.
Nevius (NBIS)
Nebius is one of several crypto miners that has pivoted to AI data centers. As the company grapples with the energy and computing bottlenecks faced by tech giants, it is investing heavily in two brands that leverage AI to reach more customers.
Nebius stock price year-to-date. Source: Google Finance
Self-driving car developer Avride and edtech company TripleTen are two long-term investments that could increase the value of NBIS stock.
But Nebius isn’t sitting around waiting for its large stakes in these companies to gain value.
Nebius recently signed a five-year agreement with Meta Platforms valued at approximately $3 billion. The partnership comes on the heels of a multibillion-dollar deal with Microsoft.
Although these partnerships aren’t fully reflected in current revenue numbers, Nebius still achieved 355% year-over-year revenue growth in the third quarter.
🔟 HODL your inventory for the next 🔟 year!
1/ Nebius$NBIS is building the next generation cloud and AI platform.
One of the most ambitious startups in AI infrastructure
Projects requiring AI model training, autonomous systems, biotech, and data are proliferating… pic.twitter.com/dGL2BLamI2
— Ray Myers (@TheRayMyers) September 19, 2025
The words “Bitcoin” and “Crypto” never appeared in Nebius’ Q3 press releases or letters to shareholders. The AI company appears to have completely pivoted away from Bitcoin as it shifts its focus to AI infrastructure.
Goldman Sachs recently raised its price target to $155 per share from $137 and reiterated its buy rating on the stock. “The imbalance between supply and demand for AI supports the continued strength of our core business,” the company said in the study.
For those in doubt, check out Goldman Sachs’ three-page report on $NBIS.
This upgrade was driven by an increase in sales forecasts and an unchanged CY27E EV/Sales multiple of 7x.
The company lowered its 2026 revenue forecast from $6.6 billion to $3.8 billion.
The company raised its 2027 revenue forecast from $5.8 billion to $7.7 billion. https://t.co/9ZizWHW6hO pic.twitter.com/aaB0MDQBTo
— MV Cunha (@mvcinvesting) November 14, 2025
Airen (Airen)
While Nebius has diversified into other investments and also offers software stacks to its customers, IREN is solely focused on providing AI cloud services.
Like Nebius, it solves the AI energy bottleneck, but benefits from a 3.2 gigawatt pipeline and the ability to build AI data centers at scale.
IREN also signed a major contract with Microsoft worth $9.7 billion over five years. The deal gives Microsoft access to 200 megawatts. Once IREN leverages its entire pipeline, it will be able to support 16 deals, including the deal with Microsoft.
IREN stock price for the past 6 months. Source: Google Finance
IREN is still mining Bitcoin, accounting for 97% of its revenue in Q1 2026. AI cloud services revenue did not change much year-over-year, but the partnership with Microsoft could drive significant growth in this space.
For now, IREN still relies heavily on Bitcoin, but has pivoted to AI data centers.
RothMKM analyst Darren Aftahi reiterated his rating on the stock as a “buy” in November and set a price target of $94. This price target suggests that IREN will more than double its current levels.
Terra Wolf (WULF)
Terrawolf is closer to IREN than Nevius. It’s a crypto miner that also relies on cryptocurrencies, but it has a big technology deal that sets it up for a transition to AI. The cryptocurrency miner plans to increase its contracted capacity by 250 to 500 megawatts per year.
For context, Terawulf allocated 168 megawatts to Fluidstack in a 25-year lease for $9.5 billion.
Fluidstack is backed by Google, which could open the door to further deals. Lease payments will be $380 million per year, or $2.26 million per megawatt per year.
Terrawolf stock price. Source: Google Finance
Using this exchange rate, Terawulf’s plan to increase capacity by 250 to 500 megawatts per year could lead to an additional $565 million to $1.13 billion in annual recurring revenue. Bitcoin prices drove its third-quarter results, but its long-term AI data center ambitions captivated investors.
“We maintain our buy rating and $17 price target based on our bullishness on TeraWulf securing sites and executing HPC builds,” Compass Point said in a research note.
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