Bitcoin Miners Surge as OpenAI-Broadcom Deal Boosts AI Market

The crypto mining sector showed a strong recovery on Monday following a market downturn, driven by optimism in AI data center demand:

Bitfarms and Cipher Mining stocks surged 26% and 20% respectively.
Bitdeer, IREN, and MARA Holdings advanced approximately 10%.

Contributing factors to the rally include:

OpenAI's agreement with Broadcom to develop custom chips for AI and machine learning.
Bloom Energy's $5 billion deal with Brookfield Asset Management to supply fuel cells for AI data centers.

The market recovered after Friday's decline due to eased trade tensions between the U.S. and China, leading to gains in major indexes: Nasdaq up 2.1% and S&P 500 up 1.4%.

Additional crypto-related movements include:

Strategy (MSTR) increased by 2.8%.
Coinbase remained stable.
Robinhood rose by 1%.

Ethereum treasury firm BitMine saw a 7% rise after purchasing over 200,000 tokens valued at over $840 million, capitalizing on the recent crypto dip.