Bitcoin miners are potentially benefiting from Meta's recent investment in nuclear power for AI purposes, announced on Tuesday. Meta (META) signed a 20-year deal to purchase 1.1 gigawatts of electrical output, signaling significant investment in data center infrastructure. This news has positively impacted several Bitcoin mining companies.
MARA Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Core Scientific (CORZ), and CleanSpark (CLSK) each saw gains of 7%-8% before the close of U.S. trade. CoreWeave (CRWV) also experienced a significant surge, rising 23% to a new record and up over 270% since its March IPO.
Cryptocurrencies are also showing modest gains, with Bitcoin up 1.8% to $106,200 in the last 24 hours. Crypto-related equities Coinbase (COIN) and MicroStrategy (MSTR) increased by 4.6% and 4.2%, respectively, mirroring the positive market sentiment.