The crypto mining industry is changing fast. Some of the biggest players — once focused purely on Bitcoin mining — are now shifting toward artificial intelligence (AI) and high-performance computing (HPC).
According to Bloomberg, this move isn’t just about finding new growth — it’s also a smart way to protect against the ups and downs of the crypto market. By expanding into AI, these companies are betting on one of the fastest-growing tech sectors in the world.
Here’s a look at who’s leading the charge:
Bitdeer Technologies
Singapore-based Bitdeer Technologies Group is one of the first movers. The company is converting its massive Bitcoin mining sites into AI-powered data centers.
On Wednesday, Bitdeer’s stock — which trades on Nasdaq under the ticker BTDR — jumped nearly 30% after announcing plans to turn its 570-megawatt facility in Clarington, Ohio, into a full-scale AI hub.
If the plan goes well, the company expects to generate over $2 billion in annual revenue by 2026.
This shift shows Bitdeer’s confidence in AI’s long-term potential — and a clear effort to rely less on Bitcoin mining.
Bitdeer’s stock is currently trading around $23, up about 5% so far this year.
TeraWulf
Based in Easton, Maryland, TeraWulf Inc. is making its own big move. The company recently announced a $3.2 billion issuance of senior secured notes to expand its Lake Mariner data center in Barker, New York.
The plan? Add AI and HPC capabilities to its existing operations, blending crypto mining with advanced computing services.
This strategy is paying off — investors are clearly optimistic. TeraWulf’s stock (Nasdaq: WULF) has surged over 155% year to date.
Riot Platforms
Colorado-based Riot Platforms is taking a more strategic approach. The company is carefully exploring how to integrate AI and HPC into its mining business.
Earlier this year, Riot hired Evercore and Northland Capital Markets to help evaluate AI opportunities at its Corsicana Facility in Navarro County, Texas.
The move shows Riot’s intent to get ahead of the curve and make the most of its infrastructure as technology evolves.
So far in 2025, Riot’s stock is up nearly 92%, trading around $20 per share.
Cipher Mining
Cipher Mining Inc. has made one of the boldest plays in this space. The company signed a 10-year, $3 billion colocation deal with Fluidstack, a company backed by Google.
Under the agreement, Cipher will have $1.4 billion in guaranteed lease obligations in exchange for a 5.4% equity stake.
This deal marks a major step toward blending crypto mining and AI infrastructure, showing how the two industries are merging faster than ever.
The market reacted strongly — Cipher’s stock (Nasdaq: CIFR) is up an incredible 288% year to date.
IREN Ltd.
Last but not least, IREN Ltd. has taken a full leap into AI and high-performance computing.
Once focused on Bitcoin mining, the company recently raised $1 billion through a convertible senior notes offering to fund its transformation.
IREN plans to expand its AI and HPC cloud services, positioning itself as a top provider of next-generation computing solutions.
The pivot is clearly paying off — IREN’s stock has skyrocketed over 480% this year.
A New Era for Mining Companies
The shift from crypto mining to AI and HPC marks a major turning point for the industry.
For years, Bitcoin mining was the heart of the digital asset world. But as profits became more volatile and competition grew, miners started looking for more stable, scalable opportunities.
Now, with AI driving global innovation — from cloud computing to data processing — these companies see a clear path forward.
By repurposing their existing data centers, energy infrastructure, and computing expertise, they’re not just surviving the crypto cycle — they’re evolving with technology itself.
In short, the future of mining might not be about Bitcoin alone anymore — it’s about powering the next generation of AI and data.
