TL;DR
- Miner rally: Bitcoin miners extended pre-market gains, with IREN up 4% and TerraWulf 5%, while others like Cipher, CleanSpark, and Bitfarms also advanced.
- Sector valuation: The group’s combined market capitalization is nearing $90 billion, with projections suggesting it could surpass $100 billion by year-end if momentum continues.
- AI-driven demand: Surging artificial intelligence and high-performance computing needs, alongside Microsoft’s data center shortages expected through 2026, are fueling optimism that Bitcoin miners can diversify into AI infrastructure and data services.
Bitcoin miners are extending their rally in pre-market trading, buoyed by surging demand for artificial intelligence and high-performance computing. The sector, increasingly pivoting toward AI infrastructure, is now approaching a $90 billion market capitalization and could surpass $100 billion by year-end if momentum holds.
AI and HPC Boom Drives Miner Momentum
The rapid expansion of AI and HPC workloads has created a new growth engine for Bitcoin miners. Companies that once relied solely on cryptocurrency economics are now leveraging their energy-intensive infrastructure to meet rising demand for data processing. This shift is fueling optimism that miners can diversify revenue streams while capturing a share of the AI-driven computing surge.
Standout Performers in Pre-Market Trading
Among the most notable movers, IREN rose 4% to $66 after a 6% gain on Thursday, extending its year-to-date surge to more than 520%. TerraWulf advanced 5% in pre-market after a 10% jump the previous session, bringing its 2025 gains to 150%. Other Bitcoin miners, including Cipher Mining, CleanSpark, and Bitfarms, also traded 2%-4% higher, underscoring broad-based strength across the sector.
Market Cap Nears $90B With $100B in Sight
According to Farside data, the combined market capitalization of publicly traded Bitcoin miners is nearing $90 billion. If current momentum continues, the sector could reach $100 billion by the end of the year. This milestone would mark a significant reevaluation of mining companies, reflecting both investor confidence and the strategic pivot toward AI infrastructure.
Microsoft’s Data Center Strain Adds Tailwinds
The bullish outlook is reinforced by broader industry dynamics. Bloomberg reported that Microsoft’s data center shortages will persist into 2026 despite adding as much as two gigawatts of new capacity. The inability to scale infrastructure quickly enough highlights the intensity of cloud and AI demand. For Bitcoin miners, this environment strengthens the case for expanding into AI and data center services, positioning them as potential beneficiaries of the global computing crunch.
