Crypto mining and AI-related stocks made a strong comeback on Monday after a rough end to last week, thanks to growing excitement around artificial intelligence (AI) technology and energy infrastructure deals.

Leading the charge were crypto mining companies Bitfarms (BITF) and Cipher Mining (CIFR), which jumped 26% and 20%, respectively. Other mining firms like Bitdeer (BTDR), Iris Energy (IREN), and MARA Holdings (MARA) also saw gains of around 10%. This rally is largely fueled by optimism that the explosive growth in AI computing will drive up demand for the kind of energy-intensive infrastructure these companies already operate.

Part of the excitement came from two major deals announced on Monday. OpenAI, the company behind ChatGPT, partnered with Broadcom to develop custom AI chips. These specialized chips are expected to support the increasing computing needs of AI systems. Meanwhile, Bloom Energy signed a massive $5 billion agreement with Brookfield Asset Management to install fuel cells in AI data centers. These fuel cells are designed to provide cleaner and more reliable power—something that’s crucial for running power-hungry AI applications.

These announcements helped ease market jitters caused by last Friday’s downturn. The recent dip was triggered by rising trade tensions between the U.S. and China, including new tariffs and restrictions on rare earth metals. However, over the weekend, investor sentiment improved, and major indexes like the Nasdaq and S&P 500 bounced back by 2.1% and 1.4%, respectively.

Other crypto-related companies also saw smaller gains. MicroStrategy (MSTR), known for holding the largest amount of Bitcoin among publicly traded companies, rose by 2.8%. Coinbase, a leading cryptocurrency exchange, stayed mostly flat. Robinhood, the trading platform with significant crypto revenue, edged up by 1%.

Ethereum-focused company BitMine (BMNR) also had a strong day, climbing nearly 7%. The firm took advantage of last week’s crypto price dip to buy over 200,000 Ethereum tokens, valued at more than $840 million at current prices.

Overall, Monday’s surge in crypto and AI-related stocks reflects growing confidence in how AI is reshaping demand for computing power and energy—two areas where crypto miners are uniquely positioned to benefit.