Bitcoin Miners Jump on Microsoft’s $17.4B AI GPU Deal Despite Weak BTC Price
September 10, 2025
Shares of bitcoin mining companies surged Tuesday following Nebius Group’s announcement of a five-year, $17.4 billion agreement to supply Microsoft (MSFT) with GPUs for its AI infrastructure. The deal lifted investor sentiment for miners with large-scale computing power, even as bitcoin (BTC) fell roughly 1% to $111,100, erasing earlier gains.
Leading the rally, Bitfarms (BITF) jumped 22%, Cipher Mining (CIFR) gained 20%, and IREN, Hut 8 (HUT), Riot Platforms (RIOT), and TeraWulf (WULF) rose in the mid-teens. MARA Holdings, which has focused more on bitcoin treasury management than high-performance computing, increased by just 4%, highlighting the market’s preference for infrastructure-heavy miners.
The sector’s performance reflects an evolving business model. Profitability is no longer dictated solely by bitcoin’s four-year halving cycle. Rising energy costs, growing hardware production, and intensifying competition have reshaped the landscape. Meanwhile, miners with advanced infrastructure are exploring new revenue streams, including leasing GPU capacity to hyperscalers or pivoting toward data center services.
The Nebius-Microsoft deal underscores the rising importance of scalable GPU infrastructure and why markets are rewarding miners positioned to benefit from the booming AI sector.
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