Following the transition to AI, stock prices continue to rise, with Cipher and Hut 8 hitting all-time highs

Odaily Planet Daily News The stock prices of Bitcoin mining companies transitioning into AI and high-performance computing continue to climb. IREN rose over 13% on Wednesday, nearing its all-time high. The company previously announced a $3 billion convertible bond offering, is collaborating with NVIDIA to build a 5-gigawatt AI data center, and acquired Mirantis for $625 million. On Tuesday, it also reached a $1.6 billion agreement with Dell to supply Blackwell AI systems. Both Cipher and Hut 8 hit record highs, with Cipher rising approximately 9.5% to $25 and Hut 8 gaining nearly 5% to $118. Over the past year, Hut 8 has surged nearly 600%. TeraWulf rose over 6% on Wednesday, gaining about 800% over the past year, with its HPC business quarterly revenue exceeding its Bitcoin mining revenue for the first time.