$Cipher Digital(CIFR.US) surged 17% today to lead the pack, with $CleanSpark(CLSK.US) and $Mara(MARA.US) also rising around 10%—this wave in mining stocks isn't driven by crypto prices: $iShares Bitcoin Trust ETF(IBIT.US) and $Coinbase(COIN.US) only saw modest gains.
The real spark lies with peers: Hut 8 secured its second 9.8 billion USD lease at Beacon Point in Texas, commercializing its entire 1 GW campus; IREN raised its 2026 ARR guidance from 3.7 billion USD to over 4 billion. The market immediately applied the "mining farm to AI data center" valuation template to all miners not yet priced according to this model.
Crypto price exposure is shrinking while the narrative around power and racks is gaining value; differentiation among miners will be significant in this revaluation—only those with self-built power assets can sustain the story, while pure miners are just riding the tide.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.