Crypto Mining Stocks Surge with MARA Leading the Charge

Crypto mining stocks are experiencing a rally as Bitcoin hovers around $80,000. This comes after a more than three-month high, but then dipped back below that key level.

MARA Holdings stock is up 7% to $11.93, TeraWulf stock is up 5% to $16.21, and IREN Limited stock is up 5% to $41.67. The Global X Data Center & Digital Infrastructure ETF is up 2% to $28.48.

The rally is broad, but individual movers tell a nuanced story. MARA Holdings' 7% jump stands out, despite Morgan Stanley's Underweight rating and the thinnest AI data center contract book among the three. This suggests that Bitcoin's daily direction is driving MARA's equity prices.