GRIID Rally Continues as Shares Quadruple Within Week

The share price of GRIID, the U.S. Bitcoin mining firm previously rumored to be an acquisition target, continued to rally on Wednesday.

GRIID’s stock surged by 43% on Tuesday, closing at $1.98. After the market opened on Wednesday, it rose again to as high as $2.72 before settling at $2.6 as of writing. This represents an increase of over 340% over the past five trading days.

As previously reported, GRIID’s stock began to surge on June 20 after rumors emerged online about a potential acquisition by CleanSpark. Its stock price jumped by 70% from $0.59 to nearly $1 last Thursday, and the momentum continued in the following days. Neither GRIID nor CleanSpark has responded to the rumors so far.

Meanwhile, other mining stocks with AI and HPC initiatives have also shown strong performances in recent weeks. Core Scientific, Bit Digital, Hut 8, Terawulf, and HIVE are trading with gains of between five and eight percent on Wednesday, despite Bitcoin remaining sluggish at around $62,000.