Bitcoin miner stocks rally on AI and HPC infrastructure gains despite weak mining revenue.

Bitcoin miner stocks have surged in 2026, driven mainly by revenue from AI and high-performance computing (HPC) infrastructure rather than traditional mining profits. Companies like RIOT and HUT saw gains of 83% and 72%, respectively, as investors value their power and data-center assets. However, Bitcoin mining revenue remains weak due to lower prices and high competition, compressing margins. The future growth of these miners depends on successfully expanding AI and HPC capacity into actual revenue streams, which could reduce reliance on volatile mining income.