Overview

• Shares of major miners rose roughly 73–124% in September while Bitcoin fell about 3%, lifting the group’s combined market value to around $47–50 billion.
• Bitfarms hit a one‑year high of $3.20 on Sept. 18 after 10 straight up days, and Cipher notched new 52‑week highs near $12.66, underscoring strong demand for mining equities.
• Companies promoting diversification into AI and high‑performance computing drew outsized interest, with Hive advancing AI data centers, Iris Energy rolling out Blackwell GPUs, TeraWulf citing a Google HPC partnership, and Applied Digital setting fresh highs.
• Network metrics tightened operating conditions as the 14‑day average hashrate topped 1 zetahash for the first time and the next difficulty adjustment was projected around +4.1%.
• Miners increased BTC holdings with Glassnode recording a 573 BTC daily net inflow on Sept. 9, while recent 13F filings highlighted new institutional positions in tickers including IREN, CIFR, CORZ, APLD and MARA.