Stocks of Companies in Bitcoin Mining and AI Infrastructure Soar, Short Sellers Face Losses
Shares of companies involved in Bitcoin mining and AI infrastructure surged, causing losses for short sellers. On Thursday, July 30, 2026, Keel Infrastructure (formerly Bitfarms) led the gains, rising 29.13%, followed by Nebius Group, Cipher Digital, and IREN Limited with jumps over 27%. Other notable gainers included Riot Platforms, Bitdeer, Core Scientific, Hut 8, and Cleanspark, with increases mostly ranging from 17% to 24%.
The rally was attributed to a short squeeze triggered by a hedge fund's forced liquidation of its holdings, which were largely bought by Citadel. Additionally, Bitcoin trading above $64,000 and strong Microsoft earnings, highlighting AI's profitability, boosted market sentiment. Coreweave also announced a deal to provide AI cloud services for U.S. defense and intelligence agencies.
This surge reflects a broader, longer-term trend of Bitcoin miners pivoting to AI data centers, leveraging their existing energy infrastructure and land. Recent multi-billion dollar deals by companies like Hut 8, IREN, and Terawulf for AI cloud services underscore this strategic shift. Other gainers, including Sandisk, Micron, Bloom Energy, and Cerebras, are suppliers critical to the AI infrastructure build-out.
While the rally provided relief after July's losses, questions remain about capital expenditures, power availability, and long-term AI demand. The sustainability of these gains depends on these companies successfully converting their energy contracts and AI service deals into stable revenue streams.
cryptonews.ru44m ago