Cipher Mining rockets 34% after $5.5B data center deal with Amazon

💡 DMK Insight

Microsoft’s $9.7 billion GPU cloud services deal with IREN is a game changer for miners. This partnership signals a strong demand for GPU resources, which could lead to increased competition among miners for cloud services. As demand rises, we might see upward pressure on GPU prices, impacting mining profitability. Traders should keep an eye on how this affects the broader crypto mining sector, especially if GPU prices spike in response. Additionally, this deal could influence related stocks in the tech sector, particularly those involved in cloud computing and GPU manufacturing. Watch for any shifts in market sentiment or price action in these stocks, as they could provide early signals of broader market trends. For immediate action, monitor IREN’s stock performance and any announcements from Microsoft regarding their cloud services strategy, especially over the next few weeks as the market digests this news.