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Bitcoin miners see weaker stock reaction to AI hosting deals
A Blocksbridge Consulting review of 25 AI and HPC infrastructure deals found average announcement-day moves fell from about 24% to roughly 10% as contracts became larger.
Bitcoin mining firms have been pivoting toward artificial intelligence and high-performance computing hosting, but investors are reacting less strongly to new infrastructure announcements than they did earlier in the cycle, according to analysis cited by Cointelegraph.
Blocksbridge Consulting, published in TheEnergyMag’s Miner Weekly, reviewed 25 AI and HPC infrastructure deals announced between June 2024 and August 2026. The report found the average stock move on announcement day dropped from roughly 24% for earlier deals to about 10% for the most recent ones, and median gains fell by about half even as deal size and contract value increased.
The analysis also said annualized revenue per contracted megawatt has edged higher over time, pointing to more lucrative hosting agreements. It concluded that as AI hosting moves into the mainstream, investors appear to be focusing more on execution, financing, and long-term profitability rather than headline contract values alone.
The shift shows up in specific deal reactions: Core Scientific’s initial hosting agreement with CoreWeave lifted shares by more than 40%, Applied Digital’s first CoreWeave lease rose nearly 49%, and TeraWulf’s first Fluidstack deal surged almost 60%. More recent mega-deals drew smaller moves, including TeraWulf’s 401-megawatt lease with Anthropic gaining about 5%, CleanSpark’s $6.6 billion AI hosting agreement rising nearly 9%, and Bitdeer’s new Tydal contract getting a comparatively muted early reaction.
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