Bitcoin Miners Soar Amid Microsoft’s $17.4 Billion AI Push

Bitcoin Miners Rally on Microsoft’s $17.4B AI GPU Deal Despite Bitcoin Weakness
September 10, 2025

Shares of major bitcoin mining companies jumped Tuesday after Nebius Group announced a five-year, $17.4 billion agreement to supply Microsoft (MSFT) with GPUs for its AI infrastructure. The announcement fueled investor optimism for miners with large-scale computing power, even as bitcoin (BTC) dipped about 1% to $111,100, erasing earlier gains.

Bitfarms (BITF) led the rally with a 22% surge, followed by Cipher Mining (CIFR) up 20%, and mid-teens gains for IREN, Hut 8 (HUT), Riot Platforms (RIOT), and TeraWulf (WULF). MARA Holdings, which has shifted toward a bitcoin treasury model rather than high-performance computing, posted a modest 4% gain, showing the market’s preference for miners with scalable infrastructure.

The sector’s strong performance highlights the changing dynamics of bitcoin mining. Profitability is no longer solely tied to the four-year halving cycle. Rising energy costs, continuous hardware expansion, and growing competition have reshaped the industry. At the same time, AI is creating new opportunities: miners with advanced infrastructure are increasingly leasing GPU capacity to hyperscalers or providing broader data center services.

The Nebius-Microsoft deal illustrates the growing value of high-performance GPU infrastructure and why investors are rewarding miners positioned to capitalize on the AI boom.