CMC News

$BTC Mining Stocks Surge 23% as Price Hits All-Time High of $126K

Publicly traded #mining companies recorded double-digit gains Monday as $BTC touched $126,200, marking a fresh peak that triggered widespread bullish positioning across equity markets.

#HIVE Digital led the rally with a 23% jump, while Bitfarms climbed 14% and Riot Platforms added 10%. MARA and CleanSpark both advanced roughly 7% as traders anticipated further price appreciation before year-end.

The surge followed increased activity in options markets, where open interest on $140,000 calls spiked sharply. Bloomberg data showed traders layering into bullish positions as technical signals pointed toward continued momentum.

Mining sector fundamentals have strengthened in recent months. MARA expanded its holdings to over 52,000 $BTC, while CleanSpark now holds more than 13,000 $BTC. Several firms also reported hitting new monthly production records.

Jean-David Péquignot, chief commercial officer at Deribit by Coinbase, attributed the rally to macroeconomic conditions, including the ongoing government shutdown, record spot #ETF inflows, and declining #exchange supplies. He noted that technical indicators suggest potential targets between $128,000 and $130,000 by mid-October.

U.S. spot $BTC ETFs attracted $3.2 billion last week, their second-highest weekly total since launching in early 2024. The inflows contributed to supply constraints as institutional demand intensified.

Trading volume reached $68.2 billion over a 24-hour period as $BTC changed hands around $125,239. The broader #cryptocurrency market capitalization hit a record $4.29 trillion over the weekend, up 23% year-to-date.

Texas Blockchain Council President Lee Bratcher noted that mining companies benefit from multiple revenue streams, including power infrastructure, AI computing partnerships, and leveraged exposure to $BTC price movements.