CoinShares Bitcoin Mining ETF Reaches Record $33.13 Amid AI Stock Surge

The CoinShares Bitcoin Mining ETF (WGMI) increased by 12% to $33.13, following Nebius Group's $17.4 billion GPU supply agreement with Microsoft, which positively impacted crypto mining and AI stocks.

Key points include:

WGMI is up 44% year-to-date, exceeding its initial market price of approximately $30.
Top holdings include IREN, which rose 188%, and Cipher Mining, which climbed 90%.
WGMI manages total assets of $175.7 million with a 0.75% expense ratio.

AI Momentum

The Nebius-Microsoft deal fueled a rally in AI-focused mining stocks, contributing to the broader AI sector's growth.

Oracle (ORCL) surged 30% in pre-market trading after raising its cloud revenue growth forecast to 77%, driven by strong AI demand. Its backlog increased 359% to $455 billion due to significant AI contracts.