{"id":11020,"date":"2025-09-17T17:23:12","date_gmt":"2025-09-17T17:23:12","guid":{"rendered":"https:\/\/bitunikey.com\/news\/heres-why-bitcon-mining-stocks-bitfarms-and-iren-are-surging\/"},"modified":"2025-09-17T17:23:24","modified_gmt":"2025-09-17T17:23:24","slug":"heres-why-bitcon-mining-stocks-bitfarms-and-iren-are-surging","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/heres-why-bitcon-mining-stocks-bitfarms-and-iren-are-surging\/","title":{"rendered":"Here\u2019s why Bitcon mining stocks Bitfarms and IREN are surging"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Top Bitcoin mining stocks like IREN and Bitfarms have surged this year, helped by their expansion into the lucrative artificial intelligence data center industry.<\/p>\n<div id=\"cn-block-summary-block_7956d67f625df74351b0580b3c07bf48\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Some popular Bitcoin mining stocks have jumped this year.<\/li>\n<li>IREN and Bitfarms have added billions to their valuations.<\/li>\n<li>The growth is driven by their ongoing investments in the AI space.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>IREN stock jumped from $5.17 in April to $37, pushing its market capitalization from $1.29 billion to $9.78 billion.<\/p>\n<p>Similarly, Bitfarms soared from $0.6612 in April to $3 today, with its market capitalization hitting $1.63 billion. Its valuation is much higher than the $950 million that Riot Platforms wanted to buy it for.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Bitfarms and IREN stocks are rising amid AI bets<\/h2>\n<p>The main reason companies like Bitfarms and IREN are rising is that they are investing millions of dollars to become large players in the data center industry.<\/p>\n<p>In August, IREN disclosed that it had acquired 4,200 Nvidia Blackwell GPUs and is in the process of buying thousands more.<\/p>\n<p>While Bitcoin (BTC) mining is still its largest business, its AI cloud revenue nearly doubled to $7 million from $3.6 million in the same quarter in 2024. Its mining revenue rose from $141 million to $180 million.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The company hopes that the AI industry will bring in annualized revenue of between $200 million and $250 million by December once it reaches 10,000 GPUs. Over time, the company hopes to deploy 60,000 GPUs at its sites in British Columbia.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24IREN&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$IREN<\/a> as an independent observer, I do agree w\/ the below. All of it. <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/jC0lhs949T\">pic.twitter.com\/jC0lhs949T<\/a><\/p>\n<p>\u2014 \ud835\udcb0\ud835\udcc2\ud835\udcb7\ud835\udcbe\ud835\udcc8\ud835\udcb6\ud835\udcc2 (@Umbisam) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Umbisam\/status\/1966993916424777807?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">September 13, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Meanwhile, Bitfarms is also scaling its business to become a large player in the industry. It recently announced a reorganization that saw it exit the Argentine market.<\/p>\n<p>Its focus now is on its 250-acre project in Pennsylvania that it hopes will become a major provider of AI services in the U.S. It has partnered with TS Data Centers to build the project.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin mining companies are replicating CoreWeave and Core Scientific model<\/h2>\n<p>Bitfarms and IREN are aiming to replicate the success of companies like CoreWeave and Core Scientific.<\/p>\n<p>CoreWeave, which started as a Bitcoin miner, is <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/CRWV\/analysis\/\" target=\"_blank\" rel=\"nofollow\">expected<\/a> to make over $5.26 billion in revenues this year and $12 billion in 2026. It has already inked a multi-billion-dollar deal with OpenAI, the parent company of ChatGPT.\u00a0<\/p>\n<p>Most notably, CoreWeave is in the process of acquiring Core Scientific in a $9 billion deal. This is a notable transaction as Core Scientific was about to go bankrupt a few years ago until it ventured in the AI data center business.<\/p>\n<p>The AI data center industry is growing, as evidenced by the recently announced $17 billion deal between Microsoft and Nebius.\u00a0<\/p>\n<p>Most importantly, expanding into the AI space means that IREN and Bitfarms will not depend solely on the Bitcoin mining industry. A major challenge with Bitcoin mining is that a halving event happens every four years, reducing Bitcoin rewards.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top Bitcoin mining stocks like IREN and Bitfarms have surged this year, helped by their expansion into the lucrative artificial intelligence data center industry. Summary Some popular Bitcoin mining stocks&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11020"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11020\/revisions"}],"predecessor-version":[{"id":11022,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11020\/revisions\/11022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11021"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}