Bitcoin may have sold off today, but bitcoin mining stocks that are pivoting to AI enjoyed a strong rally alongside tech stocks.
Tech in general bounced back from a selloff yesterday that was spurred by market jitters over workforce disruptions from AI, with the Nasdaq and S&P 500 respectively gaining 1% and 0.8%.
In the realm of bitcoin mining stocks, companies leaning into AI saw the greatest rebound. Attesting to the cohort-wide rise, Hashrate Index’s Bitcoin Mining Stock Index – an industry benchmark that tracks major publicly traded bitcoin miners – rose 5.8% on the day.
Zooming in on individual firms, Cipher Digital (NASDAQ: CIFR) led the rally, up 12.48% following its Q4 2025 earnings release this morning. The firm – formerly called Cipher Mining before announcing its name change during earnings – earned $60 million over Q4 2025.
To help fund its AI pivot, the company intends to sell the entirety of its bitcoin treasury, which included 1,166 BTC (~$74.5 million) as of February 20, 2026. The company recently sold its stake in three joint-venture mining sites to Canaan (NASDAQ: CAN) in furtherance of its exit from bitcoin mining.
Another double-digit gainer on the day, TeraWulf (NASDAQ: WULF) rose 12%. The company, which is building an AI data center in multi-billion dollar partnership with Fluidstack, is scheduled to release its Q4 2025 earnings on Thursday, February 26 at 4:30pm ET.
Hut 8 (NASDAQ; HUT), another leader in the bitcoin miner AI race, was up 9.55% on the day and is scheduled to release its earnings tomorrow, February 25 at 8:30am ET. Most recently, Hut 8 signed a $7 billion AI deal with Fluidstack and Anthropic.
Looking at other gainers on the day, Bitfarms rose 7.84%, Core Scientific was up 5.8%, and Bitdeer increased 5.43%.
An early leader in the AI race given its AI hoting deals with CoreWeave, Core Scientific has fallen behind peers, and it recently agreed to appoint up to three independent directors in consultation with Two Seas Capital following the activist investor’s protest of Core Scientific’s failed sale to CoreWeave.
Similarly to Cipher, Bitdeer announced this week that it has sold its entire bitcoin treasury to fund AI development, but it is currently embroiled in a lawsuit over one of its proposed sites for an AI data center in Clarington, OH.
CleanSpark (NASDAQ: CLSK) and Hive Digital (NASDAQ: HIVE) were respectively up 5.4% and 5.21% on the day, while MARA (NASDAQ: MARA) lagged the cohort, gaining 2.22%. Last Friday, MARA finalized its deal to take a controlling stake in Exaoin, the data center subsidiary of French national energy firm EDF.
Header image by Yorgos Ntrahas on Unsplash.
