Mining Stocks Outpace Bitcoin: $58.1B Across 15 Miners Signals a Shift in Crypto Valuations

Mining stocks just hit a record, eclipsing Bitcoin's move. The aggregate market capitalization of the 15 largest publicly traded miners hit $58.1B in September, up $16.5B from August, TheMinerMag reports. In six months, Bitcoin rose about 21%, while miner stocks surged far more ^[1].

Performance snapshot:

• Iris Energy (IREN) — up 624% ^[1] • Applied Digital (APLD) — up 345% ^[1] • Cipher Mining (CIFR) — up 321% ^[1] • TeraWulf (WULF) — up 179% to 280% ^[1] • Hut 8 (HUT) — up 179% to 280% ^[1] • Bitfarms (BITF) — up 179% to 280% ^[1] • Riot Platforms (RIOT) — up 147% ^[1] • HIVE (HIVE) — up 133% ^[1] • Core Scientific (CORZ) — up 105% ^[1] • CleanSpark (CLSK) — also notably outperformed BTC ^[1] • Bitdeer (BTDR) — also notably outperformed BTC ^[1] • Mara Holdings (MARA) — also notably outperformed BTC ^[1]

The post notes the third quarter was a record for the mining sector and asks whether this signals a structural shift in crypto valuations or a temporary surge ^[1].

Closing thought: if mining equities keep leading, crypto valuations could stay in the spotlight—watch how the sector performs relative to Bitcoin in Q4.

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