What Oracle’s Strong Earnings Mean For Crypto Mining Stocks in Q4

Crypto mining stocks are seeing major bullish forecasts as AI cloud infrastructure giant Oracle crushed its earnings to start fiscal 2026. Overall revenue increased by 12% year-over-year, while cloud revenue jumped by 28% year-over-year. But that wasn’t the real story.

MultiCloud database revenue from the tech giants grew by 1,529% year-over-year in the first quarter. Oracle CEO Larry Eliason anticipates this number growing “substantially every quarter for several years.”

Why This Is Big For Crypto Mining Stocks

Oracle also signed a 5-year computing deal with OpenAI that will produce $300 billion in revenue, starting in 2027. Oracle shares rose by 36% after the good news, but these developments are also tremendous news for crypto miners.

As Oracle heads toward a $1 trillion market cap, investors can find better gains in smaller companies that will benefit from the ongoing demand.

Many investors accumulated shares of crypto mining companies with the necessary infrastructure to support the next phase of AI.

For instance, on the day Oracle delivered its blowout earnings, crypto mining stocks IREN and CIFR shares both soared by more than 10%.

IREN has almost doubled over the past month, while CIFR has more than doubled during the same stretch.

Crypto miners have performed well amid rising demand for AI because they have Nvidia’s chips, land, and the necessary gigawatts to power the AI boom.

Oracle recently told investors it will have to develop 4.5 gigawatts of data center capacity for OpenAI, and that’s just one of the big tech clients.

Recent Deals Show What’s Possible

The rising demand for gigawatts and data centers has given crypto mining companies significant pricing power when negotiating their deals.

Not only do they have these tailwinds, but their customers are big tech, which means vast budgets.

This isn’t hypothetical. A few big deals have already changed how investors view crypto mining stocks. TeraWulf reached a $3.2 billion deal with Alphabet last month.

Hive Digital Technologies made a deal with Bell Canada, Canada’s largest tech provider, to create one of Canada’s most advanced sovereign AI ecosystems.

HIVE Stock Price Chart. Source: Google Finance

However, the biggest deal came earlier this month. Nebius and Microsoft agreed to a $17.4 billion contract through 2031.

Also, Microsoft is allowed to increase its computing capacity under the agreement, which can bring the contract value up to $19.4 billion. Nebius committed 200 megawatts to the deal.

Predicting What’s Possible

If 200 million megawatts from Nebius’ data center in Vineland, New Jersey, is enough to secure a $17.4 billion contract through 2031, imagine how much Oracle will have to pay to secure 4.5 gigawatts for OpenAI.

Those 4.5 gigawatts Oracle is talking about come to 4,500 megawatts. That’s 24.5 Nebius deals, or $426.3 billion through 2031 if Oracle has to pay the same rate as Microsoft did.

Oracle isn’t the only tech giant competing for data centers and energy. As more deals are made, fewer properties with Nvidia chips and sufficient electricity will be available.

It can take 3-6 years to develop an AI data center from scratch, which is too long for big tech’s insatiable demand for AI infrastructure.

This is good news for crypto mining stocks. But one thing investors should remember is that most of these companies are relatively small.

While Oracle is heading toward a $1 trillion market cap, IREN’s market cap is still below $10 billion, and CIFR doesn’t have a $4 billion market cap yet. HIVE is even smaller.

It takes a lot of capital and enthusiasm to propel large-cap stocks like Oracle. That’s what makes the company’s 36% post-earnings gain even more impressive.

However, it won’t take nearly as much capital to spark meaningful rallies among small crypto miners, especially when they start securing more deals.

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