Bitcoin miners and AI firms are driving increased activity in data center deals as power demand escalates. On-chain data indicates a strong interest in repurposing facilities for AI and high-performance computing (HPC) hardware. Joe Nardini of B. Riley Securities notes that demand remains robust despite a recent selloff in AI stocks, with deals in competitive markets reaching up to $550,000 per megawatt. The market's fear and greed index continues to lean towards demand, with hyperscalers and miners among the primary buyers. Nardini anticipates this trend will persist into 2026, provided pricing and tenant interest remain stable.