Bitcoin Miners Soar on Microsoft’s $17.4B AI GPU Deal Despite Flat Bitcoin Price
September 10, 2025
Shares of major bitcoin mining companies surged Tuesday as Nebius Group announced a five-year, $17.4 billion deal to supply Microsoft (MSFT) with GPUs for its artificial intelligence infrastructure. The news boosted investor sentiment for miners with large-scale computing capabilities, even as bitcoin (BTC) slipped about 1% to $111,100, erasing earlier gains.
Leading the rally was Bitfarms (BITF), up 22%, followed by Cipher Mining (CIFR) at 20%, and mid-teens gains for IREN, Hut 8 (HUT), Riot Platforms (RIOT), and TeraWulf (WULF). MARA Holdings, which has increasingly focused on bitcoin treasury management rather than high-performance computing, saw a modest 4% gain, highlighting the market’s preference for infrastructure-heavy miners.
The sector’s performance reflects a shift in the mining business model. Profitability is no longer dictated solely by bitcoin’s four-year halving cycle. Rising energy costs, expanding hardware production, and intensifying competition have reshaped the landscape. At the same time, AI is creating new opportunities: miners with advanced infrastructure are exploring ways to lease GPU capacity to hyperscalers or pivot toward broader data center services.
The Nebius-Microsoft deal underscores the growing value of scalable GPU infrastructure and why markets are rewarding miners capable of supporting the booming AI sector.
