Meta’s AI Energy Agreement Benefits Bitcoin Miners

Although Bitcoin

trading near record highs hasn’t greatly benefited struggling BTC miners, the increasing energy demands of the AI sector might offer a lifeline for the industry.

On Tuesday, social media behemoth Meta (META) signed a 20-year agreement with a nuclear power facility to acquire 1.1 gigawatts of electrical output for AI initiatives—further indicating that tech giants are committed to enhancing the infrastructure needed to power their data centers.

Bitcoin miners, some of which have started diversifying into AI-related operations, may find this news beneficial. Companies like MARA Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Core Scientific (CORZ), and CleanSpark (CLSK) are all seeing notable gains, with each rising 7%-8% as the U.S. trading session approaches its end.

CoreWeave (CRWV), one of the standout names in the AI landscape, surged by 23% today, reaching a new high and increasing more than 270% since going public in March.

In the cryptocurrency sector, values are slightly up, with Bitcoin gaining 1.8% over the last 24 hours to $106,200. The broader CoinDesk 20 index—comprising the top 20 cryptocurrencies by market capitalization excluding exchange coins, memecoins, and stablecoins—has risen by 2.8% in the same timeframe, propelled by Solana, Uniswap, and Aave, each appreciating by approximately 5-6%.

Crypto-related stocks like Coinbase (COIN) and MicroStrategy (MSTR) have also risen, up 4.6% and 4.2%, respectively.

A quick glance at traditional markets shows the Nasdaq is up 0.8% while the S&P 500 has gained 0.6%.

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