Here’s how Nvidia’s $57B Q3 sent Bitcoin mining stocks flying
Bitcoin mining stocks like IREN and Cipher have seen a significant increase in their stock value this year, with IREN up 366.7% and Cipher up 215.09% year-to-date. This surge comes as both companies begin to pivot from primarily crypto mining operations to AI and data center services. The transition is partly attributed to the high demand for high-performance GPUs, which are integral to powering AI applications.