IREN, CIFR and BITF Among BTC Miners Posting Gains Alongside AMD

OpenAI's agreement to purchase billions of dollars worth of chips from AMD has ignited a surge in both the AI and cryptocurrency mining sectors. This deal could grant OpenAI a stake of up to 10% in AMD, with AMD shares soaring by approximately 30% following the announcement. As a result, several Bitcoin mining companies experienced significant gains in their stock prices. Notably, Bitfarms (BITF) saw an increase of 8%, IREN jumped 12% to reach all-time highs, Hive Digital (HIVE) rose by 12%, Cipher Mining (CIFR) went up by 7%, CleanSpark (CLSK) added 5%, and TerraWulf (WULF) also gained 5%. The agreement is part of a trend where large-scale contracts in high-performance computing often benefit related industries, leading to a positive outlook for miners involved in cryptocurrency. This positive sentiment in the sector hints at the consequential effects of advancements in AI on the cryptocurrency landscape, particularly amidst these significant infrastructure investments.

Source 🔗