Bitcoin mining stocks surged on Monday, leading a sharp rebound across crypto-linked equities as investor enthusiasm for artificial intelligence (AI) reignited. Companies such as Bitfarms (BITF), Cipher Mining (CIFR), and Bitdeer (BTDR) posted double-digit gains, buoyed by expectations that booming AI compute demand will continue benefiting miners.
Miners Ride the AI Wave
Bitfarms and Cipher Mining rallied 26% and 20%, respectively, while Bitdeer, Iris Energy (IREN), and Marathon Holdings (MARA) advanced around 10%. The sharp recovery follows Friday’s market downturn, when broader equities sold off amid escalating U.S.-China trade tensions.
The renewed optimism was fueled by news that OpenAI, the creator of ChatGPT, has struck a partnership with chipmaker Broadcom (AVGO) to develop custom AI chips. The deal signals OpenAI’s intent to secure dedicated silicon for its expanding model infrastructure—potentially boosting demand for high-performance computing hardware that overlaps with crypto mining technology.
Adding to the upbeat sentiment, Bloom Energy (BE) revealed a $5 billion agreement with Brookfield Asset Management to deploy fuel cells for AI data centers, further spotlighting the energy sector’s growing ties to artificial intelligence.
Broader Market Rebound
Monday’s gains came as investor concerns eased following a volatile week in global markets. Trade tensions between the U.S. and China had spiked after former President Trump announced a 100% tariff hike on Chinese goods in response to Beijing’s tightening of rare earth exports. However, major U.S. indices rebounded, with the Nasdaq up 2.1% and the S&P 500 rising 1.4%, helping lift sentiment across risk assets, including crypto-related equities.
Modest Gains for Broader Crypto Plays
Beyond miners, other crypto-focused companies also enjoyed modest upticks. MicroStrategy (MSTR), the largest publicly traded holder of bitcoin, climbed 2.8%, while Coinbase (COIN) ended flat and Robinhood (HOOD) added around 1%.
Ethereum-focused BitMine (BMNR) gained nearly 7% after revealing it had purchased over 200,000 ETH, worth roughly $840 million, during last week’s market dip—a move aimed at strengthening its digital asset treasury amid discounted prices.
AI and Crypto: A Converging Frontier
The strong performance of mining and infrastructure stocks underscores a growing narrative: the convergence of AI and blockchain computing. With AI workloads driving massive demand for GPUs, data centers, and energy solutions, crypto miners—already equipped with large-scale compute operations—are increasingly viewed as strategic beneficiaries of this technological shift.
As markets continue to digest the implications of the OpenAI-Broadcom partnership and broader AI infrastructure investments, investors appear to be betting that crypto mining’s role in the digital economy is evolving beyond bitcoin—toward a new hybrid model at the intersection of AI, energy, and decentralized compute power.
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