Cipher

Bitcoin

<a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">Bitcoin's price</a> surge has ignited a rally among North American bitcoin mining <a href="https://ultramining.com/news/en/crypto-mining-stocks-outshine-bitcoins-performance-in-2023/" rel="noopener noreferrer nofollow">stocks</a>, which opened with double-digit growth. The leading cryptocurrency broke through a critical threshold, reaching an 18-month high above $37,500. Early Thursday, the price leapfrogged over $36,000 and didn't stop until it crossed $37,500, setting a record since May 2022.
Mining stocks are riding Bitcoin's coattails, with <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> Digital Holdings leading the charge with a 21% increase in its stock price, now at $10.36, according to <a href="https://theminermag.com/news/2023-11-09/bitcoin-mining-stocks-soar/" rel="noopener noreferrer nofollow">theminermag</a>.
<figure class="wp-block-image"><img src="https://lh7-us.googleusercontent.com/Xs06eqWktceHAUuw_TOIaszADrEtD47NcziOZZgWmyTEetFdakOp9BDe6dtt4QOKWTSg_h4qc_unDM78YBUhxMi6WnGtVXOK32cLr_SF018rH0vXuZ5_Ub9DCodFsptNdlDYUvObu1TRC7Jb7mi1G6o" alt="">
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Other <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">mining companies</a> like <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/" rel="noopener noreferrer nofollow">CleanSpark</a>, <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a>, <a href="https://ultramining.com/news/en/hut-8s-q2-2023-a-bitcoin-mining-marvel/" rel="noopener noreferrer nofollow">Hut 8</a>, <a href="https://ultramining.com/news/en/terawulfs-game-changing-move-75m-investment-in-next-gen-bitcoin-miners/" rel="noopener noreferrer nofollow">Terawulf</a>, <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/" rel="noopener noreferrer nofollow">Bitfarms</a>, <a href="https://ultramining.com/news/en/canaan-s-revenue-drops-by-72/" rel="noopener noreferrer nofollow">Canaan</a>, Bit Digital, and <a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/" rel="noopener noreferrer nofollow">Iris Energy</a> are also enjoying around a 15% increase in their stock prices. Despite the general uplift, <a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/" rel="noopener noreferrer nofollow">Cipher</a> Mining stocks dipped by 10% following Bitfury's stake sale news. The cumulative market cap of these 12 mining stocks has reached an impressive $8.8 billion.
However, it's not all celebration for the mining sector; most of these stocks have not yet hit their 52-week high, lagging behind Bitcoin's recent performance. This discrepancy highlights the volatile nature of the <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a> in comparison to the cryptocurrency they mine.

Bitcoin and Mining Stocks Surge to New Heights

Ultramining_Eng

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