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Hut 8, IREN AI deals spur gains in Bitcoin mining stocks
Hut 8 announced a 15-year, $9.8 billion lease for an AI data center campus, while IREN said it signed $2.8 billion in cloud services contracts, with IREN targeting more than $4 billion in annual recurring revenue by end-2026.
Bitcoin mining stocks rallied Monday after Hut 8 and IREN disclosed large AI infrastructure and cloud services deals, fueling investor optimism about the sector’s shift toward data centers and high-performance computing, Cointelegraph reports.
Multiple miners including IREN, Cipher Digital, CleanSpark, Hut 8, and MARA Holdings each gained at least 11% in early trading, according to the report.
The price action followed Hut 8’s announcement of a 15-year, $9.8 billion lease for its AI data center campus, and IREN’s disclosure of $2.8 billion in cloud services contracts with AI developers.
The story also notes that IREN expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026. It adds that the TEM AI Infrastructure Growth Index rose 1.4% on Monday and is up more than 12% over the past week, while the Nasdaq Composite gained 0.9% by midday and the Philadelphia Semiconductor Index rose 2% after entering a technical bear market last week.
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