Bitcoin mining stocks outperform BTC as investors bet on AI pivots

Bitcoin mining stocks extended their betterment successful September, outpacing Bitcoin adjacent arsenic manufacture economics stay nether unit and hardware payback periods agelong longer.

According to The Miner Mag’s latest manufacture update, shares of Cipher Mining (CIFR), Terawulf (WULF), Iris Energy (IREN), Hive Digital Technologies (HIVE) and Bitfarms (BITF) surged betwixt 73% and 124% implicit the past month. By contrast, Bitcoin (BTC) slipped much than 3% implicit the aforesaid period.

Several Bitcoin mining stocks are trading astatine yearly oregon all-time highs. Source: The Miner Mag

The rally successful mining stocks comes contempt continued unit connected manufacture fundamentals. The Bitcoin network’s adjacent trouble accommodation is projected to emergence different 4.1%, which would “mark the archetypal epoch with an mean hashrate supra the zetahash mark,” The Miner Mag reported.

That 1 zetahash milestone was archetypal reached successful September, based connected Bitcoin’s 14-day moving mean hashrate. Yet the accomplishment has done small to easiness profitability strains.

Hashprice remains stuck beneath $55 petahash per second, pressured by rising web activity, portion transaction fees person slipped nether 0.8% of monthly rewards — a motion of weaker onchain activity.

Bitcoin mining update for August 2025. Source: The Miner Mag

Even so, investors are rewarding miners pursuing GPU and AI pivots, The Miner Mag said. Hive Digital is accelerating its transition into AI information halfway infrastructure, Iris Energy is ramping up with Blackwell GPUs, and Terawulf has drawn momentum from its high-performance computing concern with Google.

Related: Bitcoin web mining trouble climbs to caller all-time high

Bitcoin miner accumulation continues

Faced with tighter nett margins, rising costs and increasing competition, Bitcoin miners are progressively turning to diversification strategies to enactment afloat.

Beyond pivoting resources toward AI and high-performance computing, galore miners person besides embraced a treasury strategy, holding onto much mined Bitcoin successful anticipation of a aboriginal terms surge.

Cointelegraph reported connected this trend successful January, highlighting a notable displacement successful miner accumulation that gained momentum done 2024 arsenic companies retained a larger stock of their production.

“In 2024, a notable displacement emerged among Bitcoin miners, with galore opting to clasp a larger information of their mined Bitcoin oregon refraining from selling altogether,” Digital Mining Solutions and BitcoinMiningStock.io wrote successful a January report.

Miners look to beryllium doubling down connected this strategy successful September, with Glassnode information showing wallet balances rising for 3 consecutive weeks. On Sept. 9, net inflows peaked astatine 573 BTC — the largest regular summation since October 2023.

Magazine: Bitcoin’s semipermanent information fund problem: Impending situation oregon FUD?