Bitcoin mining stocks continued to rally strongly on Wednesday, with the combined market capitalization of 15 major listed mining companies topping $90 billion, more than doubling from less than two months ago.
The rally was led by Bitdeer, whose shares surged 32 per cent to $26.61, a new high in more than a year. The Singapore-based company disclosed on Tuesday that its actual hashrate rose 32.9 per cent month-on-month in September thanks to the launch of its self-developed mining machine, overtaking Riot to become the world's fifth-largest listed bitcoin miner.
Shares of mining machine maker and owner-owned mining equipment operator Canaan Technology also rose as much as 11.1% to $2.00. The company recently won an order for 50,000 A15 Pro Avalon mining machines and expanded its natural gas power mining pilot project in Canada.
The momentum has spread almost across the industry, with Applied Digital and Hut 8 also posting double-digit gains on Wednesday, while almost every other company is trading near or at a new 52-week high.
The total market value of bitcoin-listed mining companies rose to $90 billion
2025-10-16 03:34:59
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