Bitcoin miners accelerate the transition to AI infrastructure; related stocks outperform BTC in 2026

Huo Xing Finance reports that on May 28, 10x Research stated that as demand for AI infrastructure grows rapidly, Bitcoin mining companies are accelerating their transition into AI infrastructure firms. Its cryptocurrency stock basket index has risen 56% year-to-date, while BTC has declined 17% over the same period. This week, BTC faced pressure due to a sharp rise in U.S. Treasury yields and increasing market expectations of a more hawkish Fed stance, as institutional capital continues to exit yieldless assets, with noticeable outflows from BlackRock’s Bitcoin ETF. Meanwhile, mining companies and AI infrastructure-related stocks surged significantly: KEEL rose 30% for the week, CIFR and IREN each gained 29%, WULF climbed 24%, and HUT increased 22%. 10x Research noted that several key events this week indicate accelerating miner transitions into AI, including IREN’s purchase of $1.6 billion in Dell Blackwell systems; TeraWulf’s acquisition of a 1 GW Kentucky facility; and Hut 8’s signing of a $9.8 billion lease agreement in Texas. On the macro front, as market expectations for a ceasefire in Iran rise, gold’s safe-haven demand has cooled, and the U.S. 10-year Treasury yield has retreated to the 4.47%-4.50% range. Markets are now awaiting the PCE data and the first FOMC meeting under new Fed Chair Walsh.