Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Crypto Market Mood Lifted as Amazon Pours $50B Into AI Infrastructure

Crypto Market Mood Lifted as Amazon Pours $50B Into AI Infrastructure

CryptoNewsNetCryptoNewsNet2025/11/24 18:09
By:coindesk.com

Last week's flush lower across markets — particularly crypto markets — is seeing at least a temporary reversal Monday, with investors cheered by Amazon's (AMZN) plans to invest up to $50 billion to expand artificial intelligence and supercomputing infrastructure for the U.S. government.

The news has helped send the Nasdaq higher by 2.3% at the noon hour on the east coast and the S&P 500 by 1.4%.

The risk-on attitude of markets is spreading to crypto, boosting bitcoin BTC$87,703.59 back to $87,300 after nearly falling through $80,000 at one point on Friday. Bitcoin still remains lower by more than 7% on a week-over-week basis.

The largest beneficiary of the Amazon news for now are the bitcoin miners who have tweaked business models to focus on AI infrastructure and high-performance computing. Cipher Mining (CIFR) surged 18%, while CleanSpark (CLSK) and IREN (IREN) gained 13%. Hut 8 (HUT) was higher by 9%.

Other crypto-related names in the green include Coinbase (COIN), Galaxy Digital (GLXY) and Bullish (BLSH), all sporting advances of 4%-5%.

Read more: Rumble Gains 13% After Tether Boosts Stake by 1M Shares

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitcoin Updates: Institutional Investors Drive Bitcoin ETF Boom Amid Growing Optimism for Rate Cuts

- Bitcoin ETFs saw $238M net inflows on Nov 21 after a record $903M outflow, signaling institutional stabilization amid volatile markets. - Fed rate cut expectations and Abu Dhabi's tripled IBIT holdings highlight Bitcoin's growing role as a macro-hedge and reserve asset. - Technical indicators suggest $90K-$92K resistance could be broken if daily inflows exceed $200M, potentially pushing BTC toward $100K by early 2026. - Asian institutional buyers consistently inject $150M weekly, contrasting U.S. retail

Bitget-RWA2025/11/27 20:08
Bitcoin Updates: Institutional Investors Drive Bitcoin ETF Boom Amid Growing Optimism for Rate Cuts

XRP News Today: Individual Investors Snap Up Last XRP Tundra Shares Ahead of Institutional Phase

- XRP Tundra emerges as a bear market hedge, leveraging dual-chain architecture on XRP Ledger and Solana to offer institutional-grade DeFi infrastructure. - Institutional acquisition accelerated its December 15 launch, establishing a $0.01 retail allocation window amid full KYC and smart-contract audits. - The project's structured yield model and cross-chain capabilities align with growing institutional interest in XRP, contrasting altcoins' struggles in a tightening crypto market. - Tundra's governance (T

Bitget-RWA2025/11/27 20:08
XRP News Today: Individual Investors Snap Up Last XRP Tundra Shares Ahead of Institutional Phase