Bitcoin Mining Stocks Surge As Market Optimism Jumps
Shares of leading Bitcoin mining firms surged today alongside renewed strength in Bitcoin markets.
Marathon Digital Holdings (NASDAQ: MARA) climbed 7.97% to $21.13, Riot Platforms (NASDAQ: RIOT) jumped 11.21% to $22.28, and CleanSpark (NASDAQ: CLSK) rose 9.09% to $21.30, at the time of writing.
Earlier during Monday’s trading hours, some of these tickers saw stock increases of 10% or more.
The rally follows a rebound in Bitcoin prices and growing investor confidence in miners’ profitability and AI-initiatives.
Cleanspark announced a move into AI and HPC that marks a pivotal moment for the company. The miner said it is positioning itself to serve as a leading technology company, thanks to its large-scale energy and data infrastructure.
Other notable gainers included Bitdeer Technologies (NASDAQ: BTDR) Canaan Inc. (NASDAQ:CAN), and Coinbase (NASDAQ: COIN), which all saw strong upside as Bitcoin rebounded above key support levels. Canaan continues an impressive month as their stock jumped after launching a Calgary pilot to convert stranded natural gas into power for Bitcoin mining and HPC.
Bitcoin mining stocks or Bitcoin corporate treasuries?
Bitcoin’s corporate treasuries and mining stocks have reached somewhat of a pivotal moment this cycle.
Firms like Strategy and Metaplanet collectively hold over 1 million BTC — more than 5% of supply — cementing their role as structural pillars of Bitcoin’s rise. But, valuations are sliding and compressing, with MicroStrategy’s stock sliding toward parity with its net Bitcoin holdings.
This marked a key inflection point: while corporate treasuries stalled, Bitcoin miners surged ahead. Marathon Digital rose 61%, Riot Platforms 231%, and Hive Digital 369% over six months, with the WGMI Mining ETF outperforming Bitcoin by roughly 75% since September.
Historically, miner equities like Marathon had led Bitcoin’s major rallies, and their latest breakout suggested renewed bullish momentum.
Major Bitcoin mining companies are also pivoting toward Artificial Intelligence (AI) and High-Performance Computing (HPC) to diversify their business models. Some major hitters like Core Scientific, Bitdeer, IREN, Hut 8, Cipher Mining, and TeraWulf have seen strong stock gains as investors reward this transition. The trend signals a broader evolution of the mining industry into a key player in powering the AI-driven digital economy.
Over the past two weeks, Bitcoin’s price has experienced rocky and volatile fluctuations, reaching a high of over $126,000 on October 6 before dropping to $104,000 recently.
This decline was attributed to geopolitical tensions and market corrections, with a significant $1 billion sell-off on October 10 as U.S.-China trade tensions escalated.
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