What to know:
- Bitcoin mining stocks saw an upswing as positive macroeconomic reports and a substantial AI-focused energy agreement created a favorable market atmosphere.
- On Tuesday, cryptocurrencies experienced a rise, with Bitcoin (BTC) up by 1.8% and the CoinDesk 20 index gaining 2.8%, propelled by notable performances in Solana (SOL), Uniswap (UNI), Aave (AAVE), and Near (NEAR).
- Meta’s 20-year arrangement with a nuclear power facility for providing energy to AI operations underscores technology giants’ commitment to infrastructure investments, likely influencing both AI and cryptocurrency industries.
Bitcoin trading near its highest ever prices has not significantly benefited struggling BTC miners; however, the increasing energy requirements from the AI sector might offer a lifeline for these miners.
On June 3, 2025, Meta established a long-term deal with a nuclear power plant, securing 1.1 gigawatts of power for AI operational needs, highlighting the tech industry’s seriousness towards essential infrastructure for their data hubs.
Bitcoin miners who have started to pivot towards AI functionalities may stand to benefit from this development. Companies like MARA Holdings, Riot Platforms, Hut 8, Core Scientific, and CleanSpark reported gains of 7% to 8% as U.S. market hours drew to a close.
CoreWeave, a significant player in the AI landscape, surged 23% today, reaching new highs and more than tripling since its public launch in March.
Overall, Bitcoin saw a modest daily increase of 1.8% to $106,200. The CoinDesk 20 index also rose by 2.8%, driven by increases in cryptocurrencies like Solana (SOL), Uniswap (UNI), and Aave.
Traditional market indices also showed positive momentum, with the NASDAQ up 0.8% and the S&P 500 rising 0.6%.
