"Earned 70% more than Bitcoin"...Cryptocurrency Mining Companies Make a Big Turnaround with AI Contracts

▲ Bitcoin (BTC), Mining/ChatGPT Generated Image

Bitcoin (BTC) mining companies have successfully transformed their business models into artificial intelligence (AI) infrastructure ventures, achieving remarkable results that exceed Bitcoin's returns by over 70%.

According to cryptocurrency media outlet Bitcoin.com on April 26 (local time), major mining companies, led by TeraWulf (WULF), have shown stock price trends that significantly outperform Bitcoin's price increase since 2026. In particular, TeraWulf recently secured a high-performance computing and artificial intelligence (AI) service contract worth $12.8 billion, sweeping up market capital. This complete transformation from mere mining to a data center operator sparked a surge in its stock price.

TeraWulf announced the large-scale AI infrastructure supply contract, which will last for the next five years, during its first-quarter earnings release. The total contract value of $12.8 billion well exceeds TeraWulf's current market capitalization. The market is noting that mining companies' ability to secure cheap power and their large-scale data center sites have emerged as key assets in the age of artificial intelligence. The entire mining industry is now evaluated as having successfully diversified its revenue streams, moving away from a structure solely dependent on Bitcoin prices.

The gap with Bitcoin's returns is widening further. While Bitcoin has shown a steady upward trend since 2026, the stock prices of listed mining companies, including TeraWulf, have recorded average returns more than 70% higher. Investors are assigning higher value to infrastructure companies capable of generating stable cash flows rather than volatile individual assets. Concerns about rising Bitcoin mining difficulty and declining profitability after the halving have been directly overcome by the powerful card of AI contracts.

Industry experts predict that this trend will spread across all listed mining companies. Large holding companies like Strategy are also paying attention to the infrastructure value of mining companies and are considering strategic collaborations. TeraWulf CEO Paul Prager emphasized, "We are no longer just Bitcoin miners, but energy infrastructure partners supporting the global artificial intelligence revolution." Energy efficiency and data center operation know-how have become new benchmarks for determining corporate value.

The paradigm shift in the Bitcoin mining industry is also altering the flow of institutional investor funds. As demand for high-performance computing explodes, mining companies' ability to secure power grids has become a huge barrier to entry. TeraWulf's $12.8 billion contract is a monumental event symbolizing the mining industry's integration into the core infrastructure of the artificial intelligence industry. The strong performance of mining companies, which have led the convergence of the two key industries—Bitcoin and artificial intelligence—is expected to continue for some time.

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