Rally

Bitcoin

<a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a>, a notable Bitcoin mining firm, has led a market surge on December 4, 2023, with its stock price soaring by 20% at market opening. This remarkable leap positions <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a> as the first public miner to achieve new year-to-date (YTD) and 52-week highs. In a dramatic turn of events, Bitcoin's rally since early November has breathed life into the mining sector, once struggling after <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a> in value since July. This resurgence is highlighted by Bitcoin's break above $41,000, spurring a wave of momentum among mining <a href="https://ultramining.com/news/en/crypto-mining-stocks-outshine-bitcoins-performance-in-2023/">stocks</a>, according to <a href="https://theminermag.com/news/2023-12-04/cleanspark-bitcoin-mining-stocks-new-highs/">TheMinerMag</a>. 
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 <img src="https://lh7-us.googleusercontent.com/IiGF4dE2X4tG-PW6jZmZguw_lLJ0Mivlqy__dyG6oprrd0q7nCGZYyrkZCKVMJc1Y0c7SsbVotM17eEkLkgjtW0trKVeSpAo42PcmRib4mYwPOKRVR6A2IkL5mmEnRgdRcYdhAUsDDeMPgee6d6VGRw" alt="">
</figure> 
CleanSpark's trading price hit a 52-week peak at $9.37, a staggering 160% increase from its October low of $3.52. Similarly, the top 12 mining <a href="https://ultramining.com/news/en/crypto-mining-stocks-outshine-bitcoins-performance-in-2023/">stocks</a>, each with a substantial three-month average volume, have seen over 5% gains. The competition is intense among giants like <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/">Bitfarms</a>, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a>, <a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/">Iris Energy</a>, and <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/">Riot</a>, all vying for new YTD and yearly highs. 
MarketWatch reports that the collective market capitalization of these 12 mining stocks has surpassed $12 billion, a significant recovery from a September low of $6.1 billion. A major contributor to this surge is Hut8's merger with USBTC on November 30, which boosted its market capitalization dramatically from $422 million to over $2.5 billion.

CleanSpark’s Stock Surge Leads Bitcoin Mining Rally

Ultramining_Eng

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