AI stocks extend rally, CoinShares Bitcoin Mining ETF hits all-time high

PANews reported on September 10th that according to CoinDesk, cryptocurrency mining and artificial intelligence-related stocks rose across the board on Tuesday, driven by Nebius Group's $17.4 billion GPU supply agreement with Microsoft. The CoinShares Bitcoin Mining ETF (WGMI) rose 12% to a record high of $33.13. The ETF has risen 44% year-to-date, surpassing its listing price of approximately $30.

Year-to-date, the fund's top two holdings have been particularly strong performers: IREN (IREN) has surged 188%, while Cipher Mining (CIFR) has gained 90%. WGMI manages $175.7 million in assets and has an expense ratio of 0.75%. The AI boom has also boosted Oracle (ORCL), which surged 30% in pre-market trading on Wednesday.