Three former Bitcoin mining companies—Applied Digital, IREN, and TeraWulf—are transforming their power-advantaged sites into AI infrastructure hubs by leasing capacity to hyperscalers and AI labs. This shift addresses a critical bottleneck: secured megawatts and pre-permitted land for AI data centers, which even GPU makers like NVIDIA cannot quickly supply. Each company shows strong contracted revenue growth but carries risks from heavy debt, customer concentration, and long-term project delivery timelines. Investors should watch upcoming project milestones and revenue ramps as these firms scale their AI hosting businesses.
Shares of TeraWulf jumped 8% after its CEO highlighted extremely strong power demand for AI data centers and pledged no shareholder dilution despite customers needing outside funding. Applied Digital and IREN also rose on the same power scarcity them...
IREN's stock fell 6% before recovering slightly after its co-CEO reassured investors that the company has no debt on its data centers and that customer prepayments cover much of its GPU costs. This comes amid analyst warnings that many specialized AI...
AI infrastructure stocks are recovering after a recent selloff, led by power-backed data center companies. Applied Digital shares rose 8%, while TeraWulf and IREN increased by around 6%. The rebound follows concerns over financing that had pressured ...
