Finding the next Nvidia is hard, but some crypto mining stocks have made a compelling case over the past few months. Much of the bullish case for these stocks is limited 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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Although the ROI may look even more exciting if you zoom 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. As one of the leading stocks in the entire market, it has given a return of 491% so far. It has increased by more than 1,000% in the last six months.
A $10,000 investment at the beginning of the year would have turned into $59,100. However, you had to hold on to your IREN shares during the tariff drama that unfolded in the first quarter. Shares fell by more than 50% within two months, and IREN shareholders also had to stand firm when the stock dropped by more than 20% in a single day, thanks to the now forgotten DeepSeek AI “bomb” that was triggered in 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 has recorded a year-to-date gain of 327%, meaning your $10,000 would have turned into $42,700. Cipher followed the same script as IREN, including a substantial DeepSeek AI decline at the beginning of the year and a lot of struggle during tariffs before the big surge.
Cipher recently signed a 10-year deal worth $3 billion with Google-backed Fluidstack. The deal covers 168 MW, and depending on the terms of the deal, it could eventually become a $7 billion deal. Cipher Mining said in its press release that it has a 2.4 gigawatt (2,400 MW) pipeline.
Nebius Group (NBIS)
Nebius’ sales have increased 264% year-over-year, thanks to its $17.4 billion deal with Microsoft. This is a five-year deal which can go up to $19.4 billion. Buying $10,000 worth of NBIS stock at the beginning of the year would have yielded $36,400.
Nebius enjoyed the quickest recovery of the three crypto mining stocks after the DeepSeek AI news emerged. The stock’s six-month returns aren’t as high as IREN or Cipher, but it’s hard to complain about a 438% gain over that period. Nebius also has the highest market capitalization in the group, at $28 billion. IREN has a market cap of $17 billion, while Cipher has a market cap of $8 billion.
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This article originally appeared on GOBankingRates.com: If You Invested $10,000 in These Crypto Mining Stocks This Year, Here’s How Much You’d Have
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