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Oracle’s Earnings Surge Signals Opportunity for Crypto Mining Stocks
Oracle’s Earnings Surge Signals Opportunity for Crypto Mining Stocks
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BTCCSquare news:
Oracle's first-quarter Multicloud database revenue skyrocketed 1,529% year-over-year, with CEO Larry Eliason forecasting sustained growth. The tech giant's $300 billion OpenAI partnership, commencing in 2027, propelled its shares 36% higher—a tide lifting crypto miners leveraging similar infrastructure.
Iris Energy (IREN) and Cipher Mining (CIFR) surged over 10% on Oracle's earnings day, with both stocks doubling in the past month. These miners capitalize on the AI boom through strategic holdings of Nvidia chips and data center assets.
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