Bitcoin Miners Bet Big on AI Infrastructure and Win. TeraWulf, IREN, Hut 8 Surge
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On July 8 TeraWulf jumped 12.8% after signing a 20-year, $19 billion lease with Anthropic for a Kentucky data center supporting 401 MW of IT load that will be online by early 2028; Compass Point raised its price target to $40 and TeraWulf sold a Texas stake to free cash for AI infrastructure. IREN rose 8.01% after an analyst upgrade and Nvidia’s July 8 keynote boosted miner sentiment while Hut 8 gained 9.69% after Russell index inclusion (HUT +383% Y/Y), signaling crypto mining stocks are tracking AI infrastructure adoption and leasing headlines more than Bitcoin’s price, though upside depends on continued AI capex into H2 2026.
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In Brief
- TeraWulf jumped 12.8% after signing a $19 billion, 20-year lease with Anthropic.
- IREN rose 8.01% after an analyst upgrade cited its AI infrastructure buildout.
- Hut 8 gained 9.69% in a day after joining several Russell growth indexes.
TeraWulf (WULF), IREN, and Hut 8 (HUT) all rallied yesterday, July 8, but Bitcoin’s price had nothing to do with it. Each saw their stock prices continue to rally on separate AI infrastructure news.
All three companies were in the top 16 best performing stocks for Wednesday, July 8 as investors reward their shift no matter what Bitcoin does on the day.
TeraWulf’s Anthropic Deal Set the Tone
TeraWulf stock rose more than 12.8% after signing a 20-year lease with Anthropic for a Kentucky data center. The site will support 401 megawatts of critical IT load, online by early 2028.
TeraWulf was yesterday’s second-best performing stock. Image Source: Trading View
Analysts project roughly $19 billion in revenue over the lease’s term. Compass Point raised its price target to $40 from $28 after the deal and kept its buy rating.
CEO Paul Prager said the lease confirms the company’s AI infrastructure pivot and locks in a long-term revenue stream. TeraWulf also sold its stake in a Texas project, freeing cash for AI infrastructure investment elsewhere.
IREN and Hut 8 Caught the Same Bid
IREN climbed 8.01% after Freedom Capital Markets upgraded the stock to buy. The firm argued the recent pullback had created more upside than the market recognized. A Nvidia keynote appearance on July 8 also lifted sentiment around Bitcoin miner stocks.
Hut 8 jumped 9.69% in a single session after joining several Russell growth and small-cap indexes. Index inclusion suggests institutions are noticing the shift toward AI. The stock is up 383% over the past year.
The pattern is clear across the sector, visible in crypto stocks to watch beyond these three names. Miner valuations now track AI leasing headlines more closely than bitcoin mining stocks ever tracked Bitcoin’s price.
Whether that holds once AI capex slows is the question for the second half of 2026.
Read the article at BeInCrypto
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