Public bitcoin miners gain as AI spending fuels momentum

Last week, bitcoin mining companies saw positive numbers in the stock market. All of the ten biggest bitcoin mining companies were in the green zone, defying market expectations.

After Bitcoin jumped over the $90,000 mark, mining companies felt the positive effects immediately. The crypto king was trading at $86k midweek and reached a top above $92k on Friday.

BTC is up by 7.3% in the past seven days and is currently exchanging hands at $90.8k.

Bitcoin mining stocks rise 5%

Public bitcoin miners closed the week at a total market cap of $69.1 billion, up by 5.04% in 24 hours.

Data collected from bitcoinminingstock.io shows that CleanSpark (ticker: CLK) and Bitfarms (ticker: BITF) gained 12.26% and 12.25% in a single day. Canaan (ticker: CAN) and Soluna Holdings (ticker: SLNH) were among the biggest gainers too, posting gains of 9.78% and 9.61% on the day. 

IREN Limited (ticker: IREN) ranks number one among other bitcoin mining companies in terms of market capitalization. The company had a strong year-over-year (y-o-y) revenue based on its released fiscal year report. IREN signed a $9.7 billion contract with Microsoft to power GPU-based AI cloud computing services at its Texas data centers. At the time of writing, IREN has a market cap of over $13 billion, but its stock dropped by 1.32%. It closed trading at $47.81.

Cipher Mining (ticker: CIFR) ranks second with a market cap of more than $8 billion. CIFR went up by 6.26% in 24 hours and by 43.81% in five days. It closed trading at $20.35. Cipher inked a 10-year high-performance computing (HPC) deal with Fluidstack. The company will provide an additional 39 megawatts (MW) of critical IT load at its Barber Lake site in Texas by early 2027. The deal with Fluidstack was the main driver of CIFR in the past week.

Applied Digital Corporation (ticker: APLD) ranks third with 8.66% daily gains and a 28.49% weekly jump. The company completed Phase II of its “Polaris Forge 1” AI-data-center campus in Ellendale, North Dakota. Applied Digital’s 100 megawatt (MW) building is now operational at full load. The APLD stock closed trading at $27.10.

TeraWulf jumped by 37.37% in one week

TeraWulf (ticker: WULF) is in the fourth position with a market cap of over $6 billion. The company released its earnings for Q3 of 2025 and reported an 87% jump in year-over-year earnings of $50.6 million. TeraWulf earned $7.2 million from high-performance computing (HPC) leases. It ended the quarter strong with $712.8 million of cash, cash equivalents, and restricted cash. WULF rose by 4.51% on Friday and closed the week with a 37.37% jump. 

Riot Platforms (ticker: RIOT) has a market cap of $5.9 billion, placing it fifth by market cap. RIOT climbed by 7.67% in a day and finished the week with gains of 26.90%. At the end of October, Riot reported $180.2 million in Q3 revenue, with $104.5 million in net income. The company mined 437 bitcoins in October and currently holds 19,324 BTC. RIOT closed last week at $16.13.

Core Scientific (ticker: CORZ) and Hut 8 (ticker: HUT) rank sixth and seventh by market cap. CORZ jumped 4.38% in 24 hours and 14.66% in five days. HUT, on the other hand, saw a positive 6.20% in one day and 31.04% in the whole week. Core Scientific disclosed the rejection of CoreWeave’s merger bid.

Back in August, Hut 8 said it would work on four new U.S. sites to deliver 1,530 megawatts (MW). Those sites are located in Texas, Louisiana, and Illinois. The capacity at each site will vary from 50 megawatts (MW) for small sites up to 1,000 megawatts (MW) for major sites.

CORZ closed the week at $16.89, while HUT finished trading at $45.0.

Public bitcoin miners continue to expand because investors are valuing them for their HPC/AI opportunities. The focus isn’t on hashrate anymore but rather on their energy utilization. “The AI battle for dominance is a battle being had by the biggest and best capitalized companies in the world and they care like their lives depend on it that they win,” said Greg Beard, former CEO of Stronghold Digital Mining.

If you're reading this, you’re already ahead. Stay there with our newsletter.