Bitcoin miners have significantly outperformed the broader cryptocurrency market year-to-date, with a 150.32% rise compared to 16.13% for crypto equities and just 1.05% for Bitcoin itself. This surge is attributed to a shift in market perception, recognizing miners as key infrastructure providers with valuable power and data-center assets. These assets are increasingly used for AI and high-performance computing (HPC) hosting, which can generate 70% more revenue per megawatt than traditional Bitcoin mining. Major players like Core Scientific, Cipher Mining, and CleanSpark have capitalized on this trend by securing multi-year hosting agreements, thereby diversifying their revenue streams. However, smaller miners with higher energy costs and less developed infrastructure are struggling to keep pace with these industry leaders.