CleanSpark Leads Bitcoin Mining Stocks in Setting Yearly Highs

The market cap of the top 12 mining stocks by trading volume also sets new highs over $12 billion on Monday.

The stock price of the bitcoin mining firm CleanSpark opened the market on Monday with a 20% jump, marking it as the first public miner to set new year-to-date (YTD) and 52-week highs.

As previously reported, most of the publicly traded mining stocks in North America reached YTD highs in July as bitcoin regained $31,000 but many had more than halved since then.

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However, they have been gaining momentum with increasing daily trading volume following bitcoin’s rally since early November and have experienced notable jumps on Monday as bitcoin breaks above $41,000.

As of writing, CleanSpark is changing hands at $9.21 after reaching a new 52-week high of $9.37, up more than 160% since its recent bottom of $3.52 recorded on Oct. 9.

Almost all the 12 largest mining stocks below, each with at least $1 million in 3-month average volume, are trading at more than 5% gains as of writing on Monday. Bitfarms, Marathon, Iris Energy, and Riot are competing with each other to achieve new YTD and yearly highs.

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Source: MarketWatch

Meanwhile, the aggregated market capitalization of the 12 mining stocks above has again crossed the $10 billion mark, setting new highs over $12 billion after dropping to $6.1 billion in September.

Notably, Hut8 completed its merger with USBTC on Nov. 30 and the trading of the new entity, under the ticker Hut, commences on Monday. The business combination has boosted Hut8’s market capitalization from $422 million as of Nov. 30 to north of $2.5 billion as of writing.