Strategy, BitMine Rise While Bitcoin Miners Surge—As BTC Inches Towards $100K
Bitcoin and high-performance computing stocks surged as Bitcoin exceeded $97,000, with Bitdeer up over 15%, Bakkt rising 12%, CleanSpark gaining 6.3%, and Riot Platforms increasing 3.2%. BitMine Immersion Technologies and Strategy also posted gains, up 4.7% and 3.6%, respectively, following significant Ethereum and Bitcoin-related treasury activity. The rally is attributed to Bitcoin’s price surge, trading at $94,549 after a 7% weekly and 3% daily gain, and a 29% rise in trading volumes to $117 billion. Factors fueling the surge include increased institutional interest, crypto-favorable regulatory signals, accelerating Bitcoin ETF inflows, and accumulation by large holders. Bitcoin is now within 23% of its all-time high, while Ethereum has risen 7.5% this week but remains down 32% from its peak. Bitcoin futures open interest increased 3.6% to $66.2 billion.
