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Bitcoin price falls, but selected US miners rise on AI deal momentum

Hut 8 gained as it announced a second 15-year lease for 352 MW of IT capacity in Texas, while IREN added $2.8 billion in new AI cloud contracts, despite Bitcoin trading about 2% lower at roughly $64,760.

Reported · Written up by our desk · Market Structure

Bitcoin was down about 2% on Thursday, trading around $64,760, while major US stock indices, including the Nasdaq, also fell. Even so, several publicly traded US Bitcoin miners posted gains in the 3% to 7% range, according to Bitcoin Magazine.

Bitcoin Magazine attributed the outperformance to deal activity tied to high performance computing and artificial intelligence. The outlet said the miners Hut 8, CleanSpark, and MARA all rose on the day despite broader market weakness.

Hut 8, the outlet reported, announced Monday that it signed a second 15-year lease for 352 megawatts of IT capacity at its Beacon Point campus in Nueces County, Texas. That agreement, Bitcoin Magazine said, doubled the site’s tenant to 704 MW of contracted capacity and fully commercialized the campus against its 1,000 MW utility capacity.

Bitcoin Magazine also pointed to IREN Limited, which it said signed $2.8 billion in new AI cloud contracts on Tuesday and is transitioning from Bitcoin mining toward providing high powered computing for AI demand. The outlet added that as Bitcoin mining becomes harder and costs rise, some miners are marketing themselves as “compute” or “digital infrastructure” providers, balancing coin minting with AI compute services.

Latest closeBitcoin $65,057.46 ▼1.6%|Nasdaq Comp. 25,837.21 ▲1.3%

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