As the crypto mining industry evolves, some of the biggest names are making a dramatic shift from the traditional world of Bitcoin mining to the booming sectors of artificial intelligence (AI) and high-performance computing (HPC).
Bloomberg reports that this strategic pivot is helping them hedge against the volatility of cryptocurrency markets but also positions them at the forefront of emerging technological trends.
Here’s a closer look at the companies leading the charge:
Bitdeer Technologies
Singapore-based Bitdeer Technologies Group is making waves by converting its major mining sites into AI data centers.
On Wednesday, the company — trading on the Nasdaq under ticker BTDR — saw its stock jump nearly 30% after unveiling plans to transform its 570-megawatt facility in Clarington, Ohio.
In the best-case scenario, full conversion could generate annualized revenue exceeding $2 billion by the end of 2026. This move highlights Bitdeer’s commitment to tapping into the high-growth potential of AI while reducing reliance on Bitcoin (BTC) mining.
Trading at roughly $23 per share, the company’s stock price is up about 5% year to date.
TeraWulf
Easton, Maryland-based TeraWulf Inc. is ramping up its expansion with a $3.2 billion issuance of senior secured notes.
These funds will go toward scaling its Lake Mariner data center in Barker, New York, integrating AI and HPC capabilities to diversify its offerings.
By embracing AI, TeraWulf is positioning itself to capitalize on new opportunities while continuing to support its traditional mining operations. And investors like what they see.
Year to date, the company’s stock — trading on the Nasdaq under the ticker WULF — is up over 155%.
