"Crypto mining stocks have silently crushed the stock market this year as many crypto mining companies pivot to artificial intelligence. They have AI data center infrastructure ready to go, and key players have already secured multi-billion dollar deals with tech giants. Energy is a key choking point in the insatiable demand for artificial intelligence, and these three crypto mining stocks are well prepared. It is no surprise that they have outperformed the stock market so far."
"The company generated $240.3 million in revenue during Q1 FY26. Only $7.3 million of that revenue came from IREN's AI cloud services, but the growth is set to accelerate. IREN projected $500 million in annual recurring AI cloud revenue by the end of Q1 2026. It also aims for $3.4 billion in AI cloud annual recurring revenue by the end of 2026."
Crypto mining companies have repurposed AI data center infrastructure and secured multi‑billion dollar contracts with technology giants, driving outsized stock performance. Energy capacity and bandwidth are identified as critical bottlenecks for AI growth, and several miners position themselves to meet that demand. IREN rose over 400% year‑to‑date, reported $240.3 million revenue in Q1 FY26 with $7.3 million from AI cloud services, and projected $500 million ARR by the end of Q1 2026 and $3.4 billion ARR by the end of 2026, backed by a five‑year $9.7 billion Microsoft contract. Cipher Mining more than tripled year‑to‑date and finalized a 15‑year $5.5 billion deal with Amazon.
Read at 24/7 Wall St.
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