Bitcoin Miners Market Cap Nears $50B as Stocks Stage Comeback
Shares of publicly traded bitcoin miners have staged a strong comeback over the past week, with several companies advancing sharply and a number setting fresh 52-week highs on Monday.
Bitfarms (NASDAQ: BITF) led the rally, jumping 17% to $2.61, bringing its market capitalization to $1.47 billion. HIVE (NASDAQ: HIVE) followed with an 11.8% gain, closing at $4.26. Both stocks have now nearly doubled from their lows earlier this year as bitcoin mining equities ride renewed momentum in the broader crypto sector.
Industry heavyweight IREN (NASDAQ: IREN) rose 2.1% to $34.66, pushing its market value to $9.4 billion — the largest among its peers. Cipher Mining (NASDAQ: CIFR) and Hut 8 (NASDAQ: HUT) also advanced, gaining around 2% to set fresh 52-week highs.
The day’s rally also pushed several names to all-time highs, including IREN at $36.38 and Applied Digital (NASDAQ: APLD) at $19.6, reflecting investor optimism over the companies’ HPC colocation potential.
Meanwhile, other stocks in the sector posted more modest moves. Bitdeer (NASDAQ: BTDR) gained 0.7% while TeraWulf (NASDAQ: WULF) and CleanSpark (NASDAQ: CLSK) dipped 0.2% each. Marathon Digital (NASDAQ: MARA) and Bit Digital (NASDAQ: BTBT) slipped 1.1% and 1.9% respectively.
The rebound occurs against the backdrop of a broader recovery in mining stocks. The combined market capitalization of 15 major mining firms has doubled from a low of $21 billion earlier this year to $47 billion as of last Friday. Over the past month, most miners have outperformed bitcoin itself, cementing the sector’s position as one of the leading beneficiaries of renewed investor interest in digital asset infrastructure.
