It’s hard to find the next Nvidia, but some crypto mining stocks have made a compelling case over the past few months. Most of the bull case around these stocks boils down to their respective pivots into AI infrastructure. Some investors are connecting the dots as more people realize the significant power requirements for AI infrastructure.
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While the ROI may look even more exciting if you zoom out 20 years into the future, these three crypto stocks have significantly outperformed the S&P 500 year-to-date. Their year-to-date gains look more attractive than the 10-year gains of most stocks in the S&P 500.
IREN Limited (IREN)
IREN has been the biggest winner of the Bitcoin mining stock boom. It has delivered a 491% year-to-date return as one of the leading stocks in the entire market. It’s also up by more than 1,000% over the past six months.
A $10,000 investment at the start of the year would have turned into $59,100. However, you had to hold your IREN shares during the tariff drama that unfolded in the first quarter. Shares dropped by more than 50% within two months, and IREN shareholders also had to stay strong when the stock dropped by more than 20% in a single day thanks to the now-forgotten DeepSeek AI “bombshell” that kicked off the first month of 2025.
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Cipher Mining (CIFR)
Cipher Mining is the second-biggest winner of the crypto mining boom. It’s logged a 327% year-to-date gain, which means your $10,000 would have turned into $42,700. Cipher followed the same script as IREN, which included a substantial DeepSeek AI drop to start the year and plenty of struggles during the tariffs before a big surge.
Cipher recently reached a 10-year deal with Google-backed Fluidstack for $3 billion. The deal covers 168 megawatts, and thanks to the deal’s terms, it can end up becoming a $7 billion deal. Cipher Mining said it has a 2.4 gigawatt pipeline (2,400 megawatts) in its press release.
Nebius Group (NBIS)
Nebius is up by 264% year-to-date thanks to a $17.4 billion deal with Microsoft. It’s a five-year deal that can go up to $19.4 billion. Buying $10,000 worth of NBIS stock at the start of the year would have resulted in a $36,400 position.
Nebius enjoyed the fastest recovery of the three crypto mining stocks after the DeepSeek AI news came out. The stock’s six-month returns aren’t as high as IREN or Cipher, but it’s hard to complain about a 438% gain during that stretch. Nebius also has the highest market cap of the bunch, coming in at $28 billion. IREN has a $17 billion market cap, while Cipher has an $8 billion market cap.
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If You Invested $10,000 in These Crypto Mining Stocks This Year, Here’s How Much You Would Have
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