Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin mining stocks soar as BTC's fresh $126,000 high fuels bets on more upside

Bitcoin mining stocks soar as BTC's fresh $126,000 high fuels bets on more upside

The BlockThe Block2025/10/05 16:00
By:By Kyle Baird

Quick Take Shares of Hive, Bitfarms, and Riot Platforms closed the day with gains in the double-digits. ETF flows and bullish options trades point to rising institutional demand despite overbought signals.

Bitcoin mining stocks soar as BTC's fresh $126,000 high fuels bets on more upside image 0

Bitcoin briefly set a new all-time high on Monday, pushing miner stocks sharply higher as traders priced in more gains before year-end.

The top cryptocurrency tapped $126,200 according to The Block's price data, slightly edging out Sunday’s peak of $125,250 . The move came as options markets saw a surge in open interest on calls targeting $140,000 , according to Bloomberg.

That momentum lifted bitcoin mining stocks across the board. Hive Digital surged 23%, followed by Bitfarms with a 14% gain, Riot Platforms up 10%, and MARA and CleanSpark both advancing about 7% according to The Block's price page .

Behind the rally is a combination of bullish bitcoin momentum and improving fundamentals across the mining sector. Firms like Hive, Marathon, and CleanSpark have all ramped up their hashrate capacity in recent months, while also expanding their bitcoin treasuries.

MARA and CleanSpark have beefed up their bitcoin holdings to over 52,000 BTC and 13,000 BTC, respectively, while firms like Hive recently hit new monthly production highs .

Bullish bitcoin drivers

Market watchers pointed to a confluence of macro and structural drivers behind these moves.

Jean-David Péquignot, chief commercial officer at Deribit by Coinbase, said that Bitcoin ticking higher was fueled by "a perfect storm of macroeconomic tailwinds," including the U.S. government shutdown , record spot ETF inflows, and declining exchange supplies.

"ETF demand is squeezing supply, while seasonal optimism and geopolitical agitation position BTC as a prime hedge against inflation,” Péquignot wrote in an email. He added that technical indicators like RSI and recent chart structure point to potential targets of $128,000 to $130,000 by mid-October, with implied volatility ticking up modestly in short-term options as traders layer in bullish positions.

Bitcoin’s price run has also been supported by record spot ETF inflows. U.S. bitcoin ETFs pulled in $3.2 billion last week, their second-highest total since launching in early 2024, according to The Block ETF data.

The price of bitcoin traded around $125,239 at publication time, up 1.8% over the past 24 hours. In that timespan, the world's foremost cryptocurrency generated $68.2 billion of trading volume.

Of note, the total cryptocurrency market capitalization reached a new all-time high of $4.29 trillion over the weekend, a 23% year-to-date increase.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!