Bitcoin Mining ETF Soars to New High as AI Stocks Extend Gains

CoinShares Bitcoin Mining ETF Hits Record $33 Amid AI Stock Rally
10/9/2025

The CoinShares Bitcoin Mining ETF (WGMI) surged 12% to a record $33.13 on Tuesday, surpassing its debut price as AI-driven momentum lifted both tech and crypto mining stocks.

The rally was fueled by Nebius Group’s $17.4 billion deal to supply GPUs to Microsoft, boosting investor interest across AI-focused and crypto mining equities. WGMI is now up 44% year-to-date, well above its initial market debut of roughly $30.

Top performers among the ETF’s holdings include:

• IREN (IREN), up 188% year-to-date
• Cipher Mining (CIFR), up 90% year-to-date

WGMI manages $175.7 million in assets and carries an expense ratio of 0.75%.

AI Momentum Drives Gains

The Nebius-Microsoft deal helped spark a broader rally in AI-focused stocks. Oracle (ORCL) surged 30% in pre-market trading Wednesday after raising its cloud revenue growth forecast to 77% amid strong AI demand. Its backlog jumped 359% to $455 billion, fueled by AI-powered cloud contracts, according to the Financial Times.