Markets
What to know:
- The collective market capitalization of miners is approaching $90 billion.
- IREN, TerraWulf, and fellow miners chalk up vigorous pre-market gains, prolonging a lengthy year-to-date sprint.
- Microsoft warns of data center shortages lasting into 2026, underscoring surging demand for AI infrastructure.
Bitcoin miners are extending their pre-market gains as the AI and HPC phenomenon continues its unblushing ascent, particularly rewarding those who have had the good sense to pivot toward AI infrastructure.
IREN (IREN) is up 4% at $66 after a 6% rise on Thursday, now up more than 520% year-to-date. TerraWulf (WULF) is 5% higher pre-market after a 10% surge on Thursday, bringing its YTD gain to 150%. Other notable movers include Cipher Mining (CIFR), CleanSpark (CLSK) and Bitfarms (BITF), which all trade 2%-4% higher in pre-market. 😂
The total market capitalization of the miners is nearing $90 billion, according to Farside data, and on this current trend could surpass $100 billion by year-end if momentum continues.
The sector is also benefiting from broader trends, with Bloomberg reporting that Microsoft’s data center shortages will persist into 2026 due to soaring cloud and AI demand.
Despite adding as much as two gigawatts of new capacity, Microsoft is still struggling to scale infrastructure quickly enough to meet demand. As the growing demand for high-performance infrastructure continues, there is a certain bravado among bitcoin miners as they cast glances toward AI and data centers. 🤖💼
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2025-10-10 13:02