Microsoft Signs $17.4 Billion Compute Deal — Crypto Mining Stocks Surge Across the Board

TradingKey – Nebius Group has signed a landmark $17.4 billion infrastructure agreement with Microsoft, sending its stock to record highs and sparking a broad rally in crypto mining equities.

On Tuesday, September 9 (local time), crypto mining stocks staged a rare synchronized surge. Bitfarms (BITF) soared 24%, Cipher Mining (CIFR) jumped nearly 20%, while IREN (IREN), Hut8 (HUT), Riot Platforms (RIOT), and TeraWulf (WULF) all gained around 15%. American Bitcoin (ABTC) rose more than 11%.

Bitfarms stock chart – Source: TradingKey

The rally was triggered by news that Nebius Group (NBIS), a company specializing in AI and machine learning compute infrastructure, had secured a $17.4 billion deal to supply Microsoft (MSFT) with GPU capacity for its artificial intelligence operations. The announcement reignited investor enthusiasm for firms with large-scale compute capabilities — Bitcoin miners included.

Following the news, Nebius Group shares surged over 49% to $95.72, marking an all-time high. Microsoft edged up 0.04%, closing at $498.41.

Nebius Group stock chart – Source: TradingKey