Wall Street’s semiconductor-driven surge is fueling fresh momentum for crypto miners betting their power-heavy infrastructure can support the AI boom. Several Bitcoin mining stocks rallied Tuesday, reflecting a broader equity surge driven by optimism around artificial intelligence productivity gains as more miners pivot toward AI and high-performance computing workloads. In addition to TeraWulf (WULF), which rallied by as much as 17% on news of a Kentucky data center acquisition site, Hut 8 (HUT), IREN (IREN) and Riot Platforms (RIOT) closed more than 5% higher on the day. The rally underscores growing investor enthusiasm for Bitcoin miners that are repurposing parts of their energy infrastructure and data center capacity to support AI and high-performance computing applications — businesses viewed as potentially more stable and lucrative than crypto mining alone. The gains came as the S&P 500 index hit fresh record highs above 7,500, led by a sharp rally in information technology and semiconductor stocks. The Philadelphia Semiconductor Index, which tracks the performance of major US chipmakers and semiconductor companies, surged 5.6% on Tuesday and is now up nearly 77% this year. Year-to-date returns for the Philadelphia Semiconductor Index (SOX). Yahoo Finance The semiconductor boom has also boosted sentiment around Bitcoin miners expanding into AI infrastructure, given their access to large-scale power capacity and data center operations needed to support high-performance computing.