Svmuu News Bitcoin Mining company stocks rose during early trading on Monday, with IREN, Cipher Digital, CleanSpark, Hut 8, and MARA Holdings all posting gains of at least 11%.The gains came after Hut 8 announced a 15-year, $9.8 billion lease agreement for an AI data center campus, and IREN disclosed a $2.8 billion cloud services contract signed with an AI developer.
Both Hut 8 and IREN began as Bitcoin mining operations but subsequently accelerated their shift toward AI infrastructure and cloud computing amid weakening mining economics. IREN expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026.
The TEM AI Infrastructure Growth Index, which tracks 20 companies in the Bitcoin mining, neocloud, and AI infrastructure sectors, rose 1.4% on Monday and has gained more than 12% over the past week.Blocksbridge Consulting estimates that the industry still needs approximately $50 billion in funding to realize its AI-related plans, with IREN facing a funding gap of about $21.1 billion.