Bitcoin mining companies TeraWulf (WULF), IREN, and Hut 8 (HUT) saw sharp stock increases on July 8, driven not by Bitcoin price movements but by growing investor interest in their artificial intelligence infrastructure capabilities. TeraWulf shares rose more than 12.8%, IREN climbed 8.01%, and Hut 8 gained 9.69%, ranking among the day's strongest technology sector performers. The rally reflects a broader market shift in which mining companies are increasingly valued as potential suppliers of power and data center capacity for AI workloads, rather than solely as Bitcoin producers. TeraWulf's 20-year lease agreement with Anthropic-linked AI infrastructure demand for a 401-megawatt Kentucky data center project, expected to generate over $19 billion in revenue, set the tone for the sector's AI-driven momentum.
TeraWulf Signs 20-Year Anthropic Lease for Kentucky Data Center
TeraWulf shares rose more than 12.8% on July 8 after the company signed a 20-year lease agreement with Anthropic-linked AI infrastructure demand for a data center project in Kentucky. The facility is expected to support 401 megawatts of power capacity and is scheduled to begin operations in early 2028. Analysts expect the contract to generate more than $19 billion in revenue over the full lease term. Following the announcement, Compass Point raised its price target for TeraWulf from $28 to $40 and maintained its buy rating. TeraWulf CEO Paul Prager said the agreement supports the company's strategy of expanding into AI infrastructure and provides a long-term revenue stream. The company also sold a stake in one of its Texas projects, freeing up additional capital for new infrastructure investments.
IREN Upgraded to Buy, Hut 8 Added to Russell Indexes
IREN shares rose 8.01% after Freedom Capital Markets upgraded the stock to a buy rating. According to the firm's analysts, the recent pullback created an attractive entry point and left the company's AI infrastructure potential underappreciated by the market. Nvidia's July 8 keynote also helped improve sentiment toward Bitcoin miners with exposure to AI and data center infrastructure. Hut 8 shares climbed 9.69% in a single trading session after the company was added to several Russell growth and small-cap indexes. The inclusion increased investor attention at a time when Hut 8 is pushing deeper into AI infrastructure. Over the past year, Hut 8 shares have gained 383%.
Bitcoin Miners Shift Valuation Focus to AI Infrastructure Assets
The trend is now visible across the mining sector. Valuations are becoming increasingly tied to AI data center capacity, power access, and long-term infrastructure contracts rather than Bitcoin price action alone. Bitcoin miners are no longer being viewed only through the lens of hash rate, mining margins, or BTC production. Companies with access to large-scale power and data center sites are now being treated as potential beneficiaries of the AI infrastructure boom.
FAQ
What drove TeraWulf's stock increase on July 8?
TeraWulf shares rose more than 12.8% after the company signed a 20-year lease agreement with Anthropic-linked AI infrastructure demand for a 401-megawatt data center project in Kentucky, expected to generate over $19 billion in revenue over the lease term.
Why did IREN and Hut 8 stocks rise on July 8?
IREN shares climbed 8.01% after Freedom Capital Markets upgraded the stock to a buy rating, while Hut 8 gained 9.69% following its addition to several Russell growth and small-cap indexes, increasing investor attention to its AI infrastructure expansion.
