Bitcoin mining stocks saw solid gains on Tuesday, buoyed by a slight uptick in crypto markets and broader enthusiasm following a major energy deal tied to artificial intelligence.
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Meta (META) announced a landmark 20-year agreement to purchase 1.1 gigawatts of power from a nuclear facility to support its AI operations. The move underscores Big Tech’s growing commitment to long-term energy infrastructure for data-intensive workloads.
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The news sent ripples through related sectors, including crypto mining, where companies are increasingly exploring AI as a complementary revenue stream.
Several leading mining firms — including Marathon Digital (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Core Scientific (CORZ), and CleanSpark (CLSK) — posted 7%–8% gains heading into the U.S. market close.
Meanwhile, CoreWeave (CRWV) — a fast-growing AI cloud provider — surged 23% on the day, continuing a blistering rally that’s seen shares climb more than 270% since its March IPO.
Crypto markets also edged higher:
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Bitcoin (BTC) gained 1.8%, trading around $106,200.
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The Index rose 2.8%, driven by strong performances from altcoins like Solana (SOL), Uniswap (UNI), Aave (AAVE), and Near Protocol (NEAR).
Though bitcoin prices remain near record highs, miners have largely underperformed this year. However, the growing energy demands of AI — and the potential crossover between crypto and AI infrastructure — may offer new growth paths for the sector.
