Bitcoin mining stocks have significantly outperformed Bitcoin in 2026, with major listed miners posting gains of up to 73% while BTC itself remains down roughly 12% year-to-date.
The divergence is being driven by a shift toward artificial intelligence infrastructure, as mining firms repurpose power-heavy facilities into high-performance computing data centres.
Terawulf leads the sector with a 73.58% gain after locking in over $12.8 billion in contracted revenue tied to AI and hyperscaler partnerships.
Other major players including Hut 8, Riot Platforms, and Core Scientific have also posted strong gains, supported by long-term AI infrastructure deals.
These companies are leveraging existing advantages in power access, site development, and operational scale to attract large technology clients such as AI firms and cloud providers.
The market is increasingly valuing miners based on contracted AI revenue rather than Bitcoin exposure, effectively repositioning them as data centre operators.
While Bitcoin’s price remains a factor, investor focus has shifted toward execution in AI partnerships, backlog visibility, and the scale of infrastructure conversion.
At the time of reporting, Bitcoin price was $79,125.62.