Как майнерам удалось обогнать биткоин

cryptonews.ru2025-10-15 tarihinde yayınlandı2025-10-28 tarihinde güncellendi

После почти двух лет отставания акции майнинговых компаний впервые начали расти быстрее, чем сам биткоин. По данным Ecoinometrics, с сентября 2025 года темпы роста их котировок заметно превысили динамику BTC

Причина быстрых темпов роста акций майнинговых компаний кроется не в динамике крипторынка. Рассказываем, как так вышло и что это значит.

Что такое майнинг криптовалют простыми словами

Что изменилось

Раньше стоимость акций майнеров напрямую зависела от курса биткоина: чем дороже монета, тем выше прибыль. Сейчас ситуация иная.

Несколько публичных компаний, среди них Iris Energy и Cipher Mining, направили часть своих вычислительных мощностей на задачи искусственного интеллекта. Их дата-центры, которые раньше занимались только добычей криптовалют, теперь обслуживают проекты машинного обучения и генеративного ИИ.

Шаг оказался выгодным. В 2025 году спрос на вычислительные ресурсы для AI-платформ и стартапов резко вырос. Компании, которые смогли использовать этот тренд, получили дополнительный доход. Им удалось обогнать по выручке коллег, которые продолжают только майнить биткоин. В результате стоимость акций майнинговых компаний, сделавших ставку на ИИ, обошла по темпам роста сам BTC.

Как менялась корреляция акций майнинговых компаний и биткоина. Источник: ecoinometrics

Почему это важно

Новый источник прибыли. Майнеры больше не зависят только от курса биткоина. Доход от вычислений для AI помогает сгладить периоды, когда майнинг становится менее выгодным.
Рост интереса со стороны инвесторов. Акции компаний, которые диверсифицируют бизнес, выглядят стабильнее. Для фондового рынка это сигнал, что сектор становится менее рискованным.
Общее сближение крипты и AI. Обе сферы зависят от мощных дата-центров и больших энергоресурсов. Майнеры фактически становятся частью инфраструктуры рынка искусственного интеллекта.
Начало нового тренда. Если успех Iris Energy и Cipher Mining закрепится, другие компании тоже могут пойти в сторону AI. Так появится гибридный рынок, где ресурсы будут распределяться между криптой и ИИ в зависимости от спроса.

Итог

Акции майнинговых компаний растут быстрее биткоина не из-за позитивной динамики цен на крипторынке, а из-за перехода части отрасли в сферу искусственного интеллекта. Этот процесс может полностью изменить роль майнинга, превратив его из узкого направления в часть большой технологической экономики.

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