Bitcoin Miners Notch Gains as Meta Signs 20-Year AI Deal With Nuclear Plant
$BTC mining stocks experienced gains as macroeconomic data and a significant AI-related energy deal boosted market sentiment.
Cryptocurrencies were also higher on Tuesday, with BTC rising 1.8% and the CoinDesk 20 index up 2.8%, driven by strong performances from SOL, UNI, AAVE, and NEAR.
Meta's 20-year agreement with a nuclear power plant for AI energy needs highlights tech giants' commitment to infrastructure, possibly impacting AI and crypto sectorBitcoin
$105,614.48
trading at or about record highs hasn't proven to be much of a benefit to the roughed up the BTC miners, but perhaps the growing energy needs of the AI sector could prove to be the industry's salvation.
Social media giant Meta (META) on Tuesday inked a 20-year deal with a nuclear power plant to buy 1.1 gigawatts of electrical output for AI purposes — yet another signal that tech giants are serious about investing into the necessary infrastructure to power their data centers.
Cryptocurrencies themselves are modestly in the green, with bitcoin up 1.8% in the last 24 hours at $106,200. The broader CoinDesk 20 (an index of the top 20 cryptocurrencies by market capitalization excluding exchange coins, memecoins and stablecoins), rose 2.8% in the same period of time, buoyed by solana
SOL
$156.64
, uniswap
$6.66
, aave each gaining roughly 5-6%.
Crypto-related equities Coinbase (COIN) and Strategy (MSTR) are up 4.6% and 4.2%, respectively.
A check of traditional markets finds the Nasdaq higher by 0.8% and the S&P 500 by 0.6%.
