AI’s Gold Rush: Bitcoin Miners Strike Digital Oil

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In this age of unbridled technological gluttony, where the gods of Silicon Valley feast upon the fruits of artificial intelligence, the humble bitcoin miner, once a pariah in the eyes of the establishment, has risen like a phoenix from the ashes of obsolescence. Behold, the markets!

What to know:

  • The fourth-quarter earnings of Microsoft (MSFT) and Meta (META) reveal a relentless pursuit of AI dominance, as if the very soul of humanity depends on it.
  • Microsoft, with the zeal of a convert, proclaims AI as its new messiah, promising eternal growth in this digital wilderness.
  • Meta, not to be outdone, pledges a staggering $115-$135 billion in 2026, as if building a modern-day Tower of Babel to reach the heavens of artificial intelligence.

And so, the bitcoin miners, once shackled by the halving of their rewards and the crushing weight of competition, have found salvation in the AI boom. Like cunning survivors in a dystopian novel, they pivot, repurposing their data centers to host the very machines that threaten to eclipse their former glory.

Consider Iren (IREN), which, in a stroke of genius or desperation, signed a pact with Microsoft to support AI workloads using Nvidia’s (NVDA) advanced chips. Or Cipher Mining (CIFR), which pledged 300 megawatts to Amazon Web Services (AWS), a sacrifice at the altar of AI.

The numbers, they speak volumes: IREN, up 47% year-to-date, a staggering 524% year-over-year. CIFR, not far behind, with a 322% ascent. And Hut 8 (HUT), another phoenix, rising 230% from the ashes. Yet, one cannot help but wonder, is this a sustainable renaissance or merely a fleeting mirage in the desert of technological progress?

The next act in this grand drama unfolds on February 25, when Nvidia reveals its hand. Will the AI boom continue, or will it crumble like a house of cards? Only time, that relentless arbiter, will tell. Until then, we watch, we wait, and we marvel at the absurdity of it all.

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2026-01-29 02:36