"Leading the charge today is Bitdeer Technologies (BTDR), whose shares jumped as much as 30% early Wednesday to $27.31, hitting their highest level in over a year. The Singapore-based miner reported a 32.9% increase in realized hashrate in September, fueled by the deployment of its proprietary mining rigs, making it the world's fifth-largest public Bitcoin miner. Bitdeer also mined 452 BTC in September, a 20.5% rise from August, and its self-mining hashrate now stands at 35 exahashes per second (EH/s),"
"This sector-wide rally has pushed the combined market capitalization of major miners to over $90 billion - more than double levels from just two months ago. The monthly momentum has spread across nearly the entire Bitcoin mining sector. Iren (IREN) recently rose sharply following the close of a $1 billion convertible note offering and two major price target hikes. Cipher Mining (CIFR), CleanSpark (CLSK), and Bitfarms (BITF) all posted double-digit weeks so far, with many names testing or setting new 52-week highs."
"Industry analysts point to growing investor interest in vertically integrated miners that combine ASIC design, self-mining operations, and AI or high-performance computing (HPC) capabilities. Bitdeer is actively expanding its AI and HPC footprint. The company is converting several of its North American mining facilities into hybrid data centers capable of hosting AI workloads. Its Clarington, Ohio site is planned to eventually handle both Bitcoin mining and AI compute, while its Tydal Phase 2 site is slated for conversion into an AI data center by Q4 2026."
Bitcoin mining stocks have rallied sharply, driving the combined market capitalization of major miners past $90 billion, more than double levels from two months prior. Bitdeer Technologies led gains with a 32.9% increase in realized hashrate in September after deploying proprietary rigs, mining 452 BTC (a 20.5% month-over-month rise), and raising self-mining hashrate to 35 EH/s with a 40 EH/s month-end target. Momentum extended across the sector, with Iren boosted by a $1 billion convertible note and price-target hikes, and firms like Cipher Mining, CleanSpark, and Bitfarms posting strong weekly gains. Investors are favoring vertically integrated miners combining ASIC design, self-mining, and AI/HPC; Bitdeer is converting North American sites into hybrid AI data centers, including Clarington and Tydal Phase 2, and plans to operate more than 200 MW.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]