In brief
- Crypto-releated equities are surging higher on Friday as Bitcoin and Ethereum regain ground.
- Firms like BitMine Immersion Technologies (BMNR) and CleanSpark (CLSK) have moved higher, now up 27% and 54% across the last five trading sessions, respectively.
- Other Bitcoin miners like Riot Platforms, MARA Holdings, and Cipher Mining are all green, as well.
Crypto-related equities like BitMine Immersion Technologies and leading Bitcoin miners CleanSpark and Riot Platforms are strongly positive amid crypto market rebounds sending Bitcoin above $92,000 earlier Friday and Ethereum back over $3,000.
Shares in BitMine (BMNR), the leading Ethereum treasury firm, are up 4.47% today and more than 27% over the last 5 trading days, now changing hands at $33.16.
The firm, which is chaired by outspoken investor Tom Lee, has remained bullish on the second-largest crypto asset, consistently adding to its coffers despite ETH’s more than 38% drawdown from its August all-time high. BitMine holds over $11 billion worth of Ethereum.
CleanSpark (CLSK) and Riot Platforms (RIOT) are up even more, jumping 12.27% and 7.8%, respectively since Friday’s opening bell. The pair have posted even larger gains over the last five days, highlighted by CleanSpark’s move of more than 54% during that time.
That move though has only helped diminish some of its monthly losses, with shares of CLSK still down around 21% during that time, changing hands at $15.10.
The roller coaster ride comes just a few weeks after the Bitcoin mining firm upsized a convertible notes offering to $1.15 billion, with nearly half earmarked for share buybacks at an average price of $15.03.
Shares in other Bitcoin miners, like Bitfarms (BITF) and Cipher Mining (CIFR) are both up more than 5% on Friday as well.
The pair are among a growing list of Bitcoin miners planning to play a pivotal role in AI compute, with Bitfarms aiming to completely transition away from Bitcoin mining throughout 2026-2027 after posting a $46 million loss in Q3.
Cipher Mining shares jumped 22% earlier this month after it announced a $5.5 billion, 15-year lease agreement to provide space and power for Amazon Web Services and AI workloads. CIFR shares are now up more than 500% in the last six months.
Further down the list, shares of MARA Holdings (MARA) and HIVE Digital Technologies have jumped 5% and 6% respectively on Friday.
But it’s not just miners enjoying a Friday green session. Digital asset treasuries that have seen their shares slide of late are getting a nice reprieve.
Alongside BitMine, shares in SharpLink Gaming, Forward Industries, and Strategy (formerly MicroStrategy) are all green. However, shares in the trio have lost 22%, 43%, and 37% respectively in the last month.
Odds of a December rate cut have improved of late, with predictors on Myriad—a prediction market operated by Decrypt’s parent company, Dastan—giving about 85% odds that the Federal Reserve will cut interest rates by 25 bps, perhaps creating near-term catalysts for all markets.
As such, Bitcoin and Ethereum have jumped 7% and 9.4% over the last week, respectively. BTC was recently changing hands at $90,868, while ETH trades at $3,047.
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