Bitcoin Mining Stocks Soar Amid Takeover Frenzy

Bitcoin mining stocks outperformed other cryptocurrency-linked stocks Thursday after multiple industry takeover offers drew market attention to the question of who could be the next target.
Shares of miners such as Stronghold (SDIG), Core Scientific and TeraWulf (WULF) surged more than 15%. Gains in Iris Energy (IREN), Mawson (MIGI), Cathedra (CBIT) and Argo Blockchain exceeded 10%.
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Most recently, one of the largest miners, Riot Platforms (RIOT), started a hostile takeover attempt of peer Bitfarms (BITF), while artificial intelligence firm CoreWeave proposed buying another mega-cap miner, CoreScientific (CORZ).

Although Bitfarms and CoreScientific both rejected the offers, the takeover attempts have reminded investors that the industry may be primed for mergers.