Bitcoin Mining Stocks Hit Record $58B Market Capitalization in September

The combined market capitalization of major publicly traded bitcoin miners reached an all-time high of $58.1 billion in September, extending a sharp recovery after a spring selloff tied to U.S. import tariffs.

The aggregate valuations of 15 major mining stocks rose from $41.6 billion in August to $58.1 billion in September, more than doubling from a Q2 low of $19.9 billion in March, according to monthly figures.

The rally in equities far outpaced the performance of bitcoin itself. Over the past six months, bitcoin gained 21%, compared to triple- and even quadruple-digit rebounds among miners.

Australia-based IREN led with a 624% surge while Cipher Mining (CIFR) and Applied Digital (APLD) also soared, up 321% and 345%, respectively, on high-performance computing momentum.

Other miners, including TeraWulf (WULF), Hut 8 (HUT), and Bitfarms (BITF) more than doubled in value, rising between 179% and 280% since the spring lows. Riot Platforms (RIOT) advanced nearly 147%, while HIVE gained 133% and Core Scientific (CORZ) climbed 105%.

Even the larger names such as CleanSpark (CLSK), Bitdeer (BTDR) and MARA, posted double-digit returns well above bitcoin’s performance.

The surge capped a strong third quarter for the sector, with miners entering October on continued momentum. Bitcoin itself began the month on a bullish note, rebounding to $116,000 on the first day of October in what traders dubbed the latest “Uptober” rally.