This week saw a mixed performance in Bitcoin mining stock prices, with leading firms displaying an approximately even split between gainers and losers. As of market close on October 17, 2025, Bitdeer emerged as the standout performer, surging by 29.84%, significantly outpacing the competition. Other notable gainers included Hut 8, which increased by 5.72%, Bitfarms at 5.47%, Cipher Mining with a rise of 5.1%, and Marathon Digital Holdings (MARA), marking a more modest gain of 1.19%.
Conversely, the week was less kind to Hive, which dropped sharply by 16.03%, leading the pack of laggards. Other companies experiencing declines included Riot at -6.88%, IREN down by 4.36%, CleanSpark falling 3.46%, TeraWulf decreasing by 2.93%, and Core Scientific with a slight dip of 0.1%.
Mid-week, Bitcoin mining stocks experienced a rally, peaking on Wednesday before a sell-off occurred, leading to a mixed close by Friday.
When observing the monthly performance, it is noteworthy that every stock in this cohort has recorded gains of double-digit percentages, reflecting a broader positive trend in the sector.
The rise in Bitcoin mining stocks has been attributed to a heightened investor appetite for artificial intelligence (AI) exposure, with nearly all firms mentioned having laid out plans to engage in AI or high-performance computing (HPC) services, the exception being MARA. Many of these companies have recently been securing substantial financing deals to further their AI objectives. For instance, TeraWulf has tapped into $3.2 billion in convertible notes, while IREN is pursuing $1 billion in similar financing. Bitfarms is also in the process of proposing a $300 million convertible note.
These funds are earmarked for capital expenditures aimed at bolstering each company’s AI initiatives. Specifically, IREN recently disclosed a multi-year agreement to offer cloud services that it projects will yield $500 million in annual recurring revenue. While IREN operates its own GPU facilities as a cloud services provider, the majority of other Bitcoin miners are developing infrastructure to host GPU operators, a model that was initially established by Core Scientific in its partnership with CoreWeave.
