Shares of leading Bitcoin mining companies rose today along with renewed strength in Bitcoin markets.
Marathon Digital Holdings (NASDAQ: MARA) rose 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 trading hours on Monday, some of these indicators saw stocks increase by 10% or more.
This rise comes after a recovery in Bitcoin prices and growing investor confidence in the profitability of miners and artificial intelligence initiatives.
cleanspark Announce The move to artificial intelligence and high-performance computing represents a pivotal moment for the company. The mining company said it is positioning itself to serve as a leading technology company, thanks to its extensive power and data infrastructure.
Other notable gainers include Bitdeer Technologies (NASDAQ: BTDR), Canaan Inc. (NASDAQ:CAN), and Coinbase (NASDAQ:COIN), all of which saw a strong rally as Bitcoin rebounded above key support levels. Canaan continues an impressive month as its shares jumped following the launch of a Calgary pilot project to convert stranded natural gas into energy for Bitcoin mining and high-performance computing.
Bitcoin Mining Stocks or Bitcoin Treasuries?
Treasuries and Bitcoin mining stocks have somewhat reached a pivotal moment in this cycle.
Companies like Strategy and Metaplanet collectively hold more than 1 million Bitcoins – more than 5% of the supply – cementing their role as structural pillars of Bitcoin’s rise. But valuations are slipping and compressing, with MicroStrategy stock sliding toward parity with its net Bitcoin holdings.
This marked a major inflection point: while corporate Treasuries faltered, bitcoin miners surged ahead. Shares of Marathon Digital are up 61%, Riot Platforms 231%, and Hive Digital 369% over six months, with the WGMI Mining ETF outperforming Bitcoin by about 75% since September.
Historically, mining stocks like Marathon have led major Bitcoin rallies, and their recent breakout suggests renewed upward momentum.
Major Bitcoin mining companies are also turning to artificial intelligence (AI) and high-performance computing (HPC) to diversify their business models. Some major companies like Core Scientific, Bitdeer, IREN, Hut 8, Cipher Mining, and TeraWulf have seen strong stock gains as investors reward the shift. This trend indicates a broader evolution of the mining industry into a major player in powering the AI-driven digital economy.
Over the past two weeks, Bitcoin’s price has seen rocky and volatile swings, reaching a high of over $126,000 on October 6 before falling to $104,000 recently.
The decline was attributed to geopolitical tensions and market corrections, with a significant $1 billion sell-off on October 10 as trade tensions between the US and China escalated.
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