AI Demand Drives Growth in Cryptocurrency Stocks: Core Scientific, Oracle, TeraWulf Shine

Global demand for AI-related technology is driving export orders for key chip and electronics hubs. This, in turn, has created a ripple effect in cryptocurrency and blockchain stocks.

Three stocks from Simply Wall St's Top Cryptocurrency and Blockchain Stocks screener are highlighted as potential opportunities: Core Scientific (CORZ), Oracle (ORCL), and TeraWulf (WULF). These companies have significant exposure to AI infrastructure, which is driving demand for data centers and computing power.

Core Scientific is one of the largest US providers of power-hungry infrastructure that underpins both Bitcoin mining and high-density compute. Its core link to the crypto and blockchain theme is its digital asset self-mining and hosted mining operations.

The company's market cap is around $6.1 billion, with a significant portion of revenue coming from colocation services that support AI and machine learning workloads. However, Core Scientific is still loss-making and working through post-Chapter 11 restructuring.