Bitcoin Miner Stocks Soar as Rising Prices Lift Sector
Bitcoin miner stocks experienced a significant surge on Thursday as Bitcoin prices neared $64,856. The rally was led by Terawulf Inc (WULF), MARA Holdings Inc (MARA), American Bitcoin Corp (ABTC), and IREN Ltd (IREN) with double-digit gains.
Terawulf attracted both retail and institutional interest ahead of its second-quarter 2026 earnings report, scheduled for August 5. Investors were encouraged by the company's operational momentum as crypto markets stabilized.
MARA Holdings also gained ahead of its August 6 earnings release, recovering from recent pressure. American Bitcoin Corp saw gains primarily correlated with Bitcoin's intraday move toward the $64,500-$65,000 range.
IREN posted the strongest gain after Co-founder and Co-CEO Daniel Roberts reiterated strong customer demand for the company's AI compute capacity. He noted that approximately 85% of IREN's $4 billion-plus annualized 2026 revenue target is already backed by signed contracts while construction continues across multiple expansion sites.
Despite Thursday's rally, the sector continues to face significant headwinds, including high electricity costs, potential halvings' long-term impact on margins, share dilution history, insider selling, and macro sensitivity.