Crypto Mining Stocks jumped Tuesday after Nebius Group announced a five-year agreement to supply Microsoft (MSFT) with $17.4 billion worth of graphics processing units.
The deal, which aims to bolster Microsoft’s artificial intelligence infrastructure, sparked investor enthusiasm for companies with large computing power.
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Mining stock gatherings also came as Bitcoin BTC$111,290.84 That itself gave up early progress, dropping by about 1% over the past 24 hours to $111,100. This contrast highlights that investors’ attention is increasingly linked to the role that mining infrastructure can play in the AI boom, rather than the price action of Bitcoin.
The reading was a 22% profit from BitFarms (BITF), while Cipher Mining (CIFR) shares rose 20%. Iren (Airen), Hut 8 (Hut), Riot Platform (Riol), Terra Wolf (WULF) was mid-October.
Interestingly, the weakest sector performer was Mara Holdings. Over the past few months, I have positioned myself as a more Bitcoin finance company rather than a high-performance computing player. Mara shares rose just 4% on Tuesday.
The big movements reflect the changing reality of the industry. For years, mining profitability was largely determined by a four-year cycle of Bitcoin, when the block’s rewards were cut in half. That rhythm no longer prevails, and companies are exposed to surges in electricity costs, relentless hardware production, and increased competition. Hardware manufacturers like Bitmain continue to expand, putting pressure on already busy fields.
At the same time, AI is restructuring its business model. With a large energy footprint and sophisticated computing infrastructure, miners are looking for ways to lease hyperscalar capabilities or pivot towards data center services. The Nebius-Microsoft deal highlighted how GPU access is valuable and why the market rewards miners with scalable infrastructure.
