Woofun AI reports that Hut 8 announced a 15-year, $9.8 billion lease agreement for an AI data center campus, while IREN disclosed a $2.8 billion cloud services contract with an AI developer. These deals triggered early Monday gains of at least 11% for Bitcoin mining stocks including Cipher Digital, CleanSpark, and MARA Holdings.

Both companies are shifting from Bitcoin mining to AI infrastructure due to weakening mining economics. IREN projects annual recurring revenue from AI cloud services to exceed $4 billion by late 2026. The TEM AI Infrastructure Growth Index rose 1.4% on Monday and over 12% weekly, though Blocksbridge Consulting estimates a $50 billion industry funding gap, with IREN facing a $21.1 billion shortfall.