TLDR
- Bitcoin reached a new all-time high above $126,000 on Monday, driving up mining and treasury company stocks
- Argo Blockchain led gains with a 96% rally, while US miners like HIVE Digital Technologies gained 25%
- Major miners MARA Holdings and Riot Platforms posted gains of 9.3% and 10.9% respectively
- Bitcoin treasury companies showed mixed results, with DDC Enterprise up 22% while others declined
- The rally came as spot Bitcoin ETFs recorded $3.2 billion in inflows last week, their second-highest total since launching
Bitcoin reached a fresh all-time high above $126,000 on Monday. The move sent shares of crypto mining companies and some treasury firms sharply higher.
Argo Blockchain posted the largest gain among global miners. The London-listed company rallied 96% to 5.3 British pence, equal to about $0.07 per share.
US-based mining firms also saw strong performance. HIVE Digital Technologies closed up more than 25% and continued climbing another 11% in after-hours trading to reach $6.18.
Bitfarms and IREN each gained around 15%. Bitfarms closed at $3.46 while IREN reached $57.75, with both stocks extending gains after the regular trading session ended.
Riot Platforms rose 10.9% to $21.56. MARA Holdings gained 9.3% to close at $20.57.
Bitcoin treasury companies showed more varied results. DDC Enterprise led the group with a 22% gain on Monday.
Strategy closed up 2.3%. GD Culture Group and Strive ended the session down 4.2% and 2.7% respectively.
Kindly MD posted the worst performance among treasury firms. The stock dropped 8.8% to $1.03.
Mining Fundamentals Improve
Several mining companies have expanded their operations in recent months. MARA now holds over 52,000 BTC in its treasury while CleanSpark holds more than 13,000 BTC.
HIVE recently reported new monthly production highs. The company has also increased its hashrate capacity alongside rivals Marathon and CleanSpark.
Bitcoin briefly touched $126,200 according to market data. The cryptocurrency has traded relatively flat since reaching the new peak.
ETF Inflows Drive Demand
US spot Bitcoin ETFs recorded $3.2 billion in inflows last week. This marked their second-highest weekly total since the products launched in early 2024.
Options markets showed increased activity targeting higher price levels. Open interest surged on call options with a $140,000 strike price.
The total cryptocurrency market capitalization reached $4.29 trillion over the weekend. This represents a 23% increase for the year.
Ethereum also gained during the rally. The second-largest cryptocurrency traded at $4,675, sitting about 5.3% below its late August all-time high of over $4,900.
Bitcoin was trading around $125,239 at recent check. The cryptocurrency generated $68.2 billion in trading volume over a 24-hour period.
