Bitcoin has unexpectedly risen above the $64 000 mark, and the reason is not the usual macroeconomic signals, but a surge of major deals in artificial intelligence infrastructure. While oil prices are rising due to tensions in the Strait of Hormuz and yields on long-term U.S. bonds are reaching their highest levels since 2007, the cryptocurrency is finding support in news of multi-billion dollar contracts between NVIDIA and OpenAI.
Major Bitcoin miners are no longer just mining coins; they are actively leasing their capacity for AI computing. Riot Platforms has signed a 20-year agreement for 191 MW with one of the leading AI labs, and NVIDIA has announced support for an OpenAI "AI factory" with potential revenue of up to $600 billion by 2030. These deals provide miners with stable dollar-denominated income and reduce their dependence on the volatility of Bitcoin itself.
Investors who were accustomed to viewing mining merely as an energy-intensive business are now facing a new logic: excess capacity and cheap energy are becoming a competitive advantage in the race for AI infrastructure. Companies like Strategy (formerly MicroStrategy) continue to accumulate Bitcoin, but at the same time, they are learning to sell off part of their holdings to maintain liquidity and pay dividends on preferred shares.
At the same time, Bitcoin's correlation with traditional macro indicators remains low. U.S. inflation data had almost no impact on the price, and market attention is increasingly shifting toward internal factors within the crypto industry—regulatory clarity, institutional demand, and asset tokenization. This makes the asset more independent, but also more vulnerable to industry-specific risks.
For the average investor, the situation looks like an intertwining of two major stories: the explosive growth of AI and the evolution of Bitcoin from "digital gold" into an element of energy and computing infrastructure. Those who were previously skeptical of miners now see them as potential beneficiaries of the AI boom, rather than just consumers of electricity.
However, behind the outward optimism, risks remain: a blockade of the Strait of Hormuz could push oil prices higher and increase inflationary pressure, while bond yields are already limiting the appetite for risk assets. Under these conditions, Bitcoin is demonstrating not so much confident growth as the ability to find new points of support in a changing world.
