BlockBeats News, May 28th. After traditional Bitcoin mining companies transitioned into artificial intelligence, hyperscale computing, and data center infrastructure, they continued to receive strong market support on Wednesday. A series of related stocks recorded double-digit gains, with IREN leading the sector on Wednesday with a price surge of over 13%, approaching a new all-time high. Cipher Digital and Hut 8 even reached new historical highs.

This trend has continued over the past few months: companies that were once focused on Bitcoin mining are now shutting down part of their mining operations and redirecting resources and capital to AI power and computing infrastructure. Today, many investors believe that these new business initiatives are more attractive than traditional mining operations.