Bitcoin (BTC) is trading at record highs around $106,298.91, a situation that hasn't directly helped many BTC miners. Nevertheless, the AI sector's increasing demand for energy might provide unexpected opportunities for the crypto mining community. Recently, Meta Platforms (META) established a significant 20-year agreement with a nuclear facility to purchase 1.1 gigawatts of electrical output, aimed at supporting AI needs. This development is indicative of larger tech firms investing in infrastructure to bolster data center capabilities.
As a result of this news, several Bitcoin mining companies, including Marathon Digital Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Core Scientific (CORZ), and CleanSpark (CLSK), recorded gains ranging from 7% to 8% shortly before the U.S. markets closed. Notably, CoreWeave (CRWV), a prominent player in the AI market, surged 23% in just one day and has increased by over 270% since its public listing in March. Meanwhile, Bitcoin itself saw a modest 1.8% increase in the last 24 hours, maintaining a value of approximately $106,200. The broader CoinDesk 20 index, which tracks the largest cryptocurrencies by market cap (excluding exchange coins, memecoins, and stablecoins), gained 2.8%, with notable contributions from Solana (SOL) and Uniswap (UNI) each rising about 5-6%. Related equities in the crypto sector, including Coinbase (COIN) and MicroStrategy (MSTR), also saw positive movements, up 4.6% and 4.2% respectively. Concurrently, traditional markets reflected a steady trend, with the Nasdaq gaining 0.8% and the S&P 500 up by 0.6%.
As a result of this news, several Bitcoin mining companies, including Marathon Digital Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Core Scientific (CORZ), and CleanSpark (CLSK), recorded gains ranging from 7% to 8% shortly before the U.S. markets closed. Notably, CoreWeave (CRWV), a prominent player in the AI market, surged 23% in just one day and has increased by over 270% since its public listing in March. Meanwhile, Bitcoin itself saw a modest 1.8% increase in the last 24 hours, maintaining a value of approximately $106,200. The broader CoinDesk 20 index, which tracks the largest cryptocurrencies by market cap (excluding exchange coins, memecoins, and stablecoins), gained 2.8%, with notable contributions from Solana (SOL) and Uniswap (UNI) each rising about 5-6%. Related equities in the crypto sector, including Coinbase (COIN) and MicroStrategy (MSTR), also saw positive movements, up 4.6% and 4.2% respectively. Concurrently, traditional markets reflected a steady trend, with the Nasdaq gaining 0.8% and the S&P 500 up by 0.6%.
