Bitcoin mining stocks experienced a strong upswing on Wednesday, following Donald Trump’s win and a subsequent boost in the crypto market. By November 6, Bitcoin was trading near $74.6K at 9:40 a.m. ET, spurring significant gains across leading mining companies.
Among the top performers, MARA Holdings (MARA) — the mining sector’s largest publicly traded firm — rose 9.89%. Core Scientific (CORZ) also saw an 8.21% increase, while Riot Platforms (RIOT), holding the third-largest market cap, advanced 11.38%.
Cipher Mining (CIFR) led the gains, jumping 17.67% by mid-morning, with Hut 8 (HUT) following closely, gaining 17.05% in the same period. Out of 30 publicly traded mining companies, only Griid (GRDI) missed the rally, with most others reflecting investor optimism in digital asset stocks.
The boost extended beyond miners, lifting crypto-related companies such as Coinbase (COIN) and MicroStrategy (MSTR), which saw their shares increase by 15.97% and 12.27%, respectively. The surge signals renewed investor interest in crypto firms, sparked by optimism surrounding Trump’s stance on digital assets.
As Bitcoin stabilizes near its record highs, both mining and crypto firms are seeing increased market confidence, potentially signaling sustained interest in the sector. This rally marks a robust comeback for mining stocks and crypto-linked companies, highlighting investor optimism about the market’s future momentum.
