Hut 8, IREN deals lift AI-focused Bitcoin mining stocks

Written by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorWritten by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorHut 8, IREN deals lift AI-focused Bitcoin mining stocksLatest NewsPublishedJul 20, 2026Bitcoin miners rallied as investors cheered multi-billion-dollar AI infrastructure contracts, underscoring the sector’s accelerating shift toward data centers and cloud computing. Shares of several Bitcoin mining companies surged Monday after Hut 8 and IREN announced major AI infrastructure deals, reinforcing investor optimism around miners expanding into artificial intelligence and high-performance computing.IREN, Cipher Digital, CleanSpark, Hut 8 and MARA Holdings each gained at least 11% in early Monday trading. The rally 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. Both companies began as Bitcoin (BTC) miners before accelerating a pivot toward AI infrastructure and cloud computing as mining economics weakened.IREN now expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026.The rally was reflected in The Energy Mag’s TEM AI Infrastructure Growth Index, which tracks 20 companies spanning the Bitcoin mining, neocloud and AI infrastructure sectors. The index rose 1.4% on Monday and is up more than 12% over the past week. The performance of the TEM AI Infrastructure Growth Index. Source: The Energy MagThe rally in Bitcoin mining stocks coincided with a broader recovery in technology shares, as the Nasdaq Composite Index added 0.9% by midday. The Philadelphia Semiconductor Index, a closely watched gauge of chipmakers powering the AI boom, climbed 2% after entering a technical bear market last week, defined as a decline of 20% or more from its recent high.Related: Bitdeer stock jumps 14% as company expands US mining hardware productionAI pivot fuels gains, rais…

Hut 8, IREN deals lift AI-focused Bitcoin mining stocks

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