Bitcoin Miners Gain Pre-Market as Market Cap Approaches $90 Billion
- Bitcoin miners are seeing gains in pre-market trading due to the increase in AI and high-performance computing (AI/HPC) demand.
- IREN's stock rose by 4% to $66, following a 6% increase, with a year-to-date rise of over 520%.
- TerraWulf increased by 5% in pre-market trading after a 10% surge, with a year-to-date gain of 150%.
- Other miners like Cipher Mining, CleanSpark, and Bitfarms are trading 2%-4% higher in pre-market.
- The total market capitalization of miners is nearing $90 billion and could surpass $100 billion by year-end if the current trend continues.
- Microsoft's data center shortages, expected to persist until 2026 due to rising cloud and AI demand, are benefiting the sector.
- Despite adding two gigawatts of capacity, Microsoft struggles to meet demand, boosting optimism for bitcoin miners expanding into AI infrastructure.
