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CoinShares Bitcoin Mining ETF Hits Record High as AI Stocks Extend Rally
The ETF climbed past its debut price as Oracle’s AI-fueled cloud surge lifted tech momentum.
Updated Sep 10, 2025, 1:35 p.m. Published Sep 10, 2025, 10:26 a.m.
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What to know:
- WGMI shares touched $33.13, up 44% year-to-date, driven by strong gains in IREN (+188%) and Cipher Mining (+90%).
- Oracle’s $455B backlog and upgraded 77% cloud revenue growth forecast highlight soaring AI demand.
The CoinShares Bitcoin Mining ETF (WGMI) rose 12% to a record $33.13 on Tuesday as Nebius Group’s $17.4 billion agreement to supply GPUs to Microsoft boosted crypto mining and AI-related stocks across the board
The exchange-traded fund is now 44% higher year-to-date and has surpassed its market debut level of around $30.
STORY CONTINUES BELOW
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The top two holdings have been standout performers year-to-date:
- IREN (IREN) has surged 188%
- Cipher Mining (CIFR) has climbed 90%
WGMI manages $175.7 million in total assets with an expense ratio of 0.75%.
AI momentum
The Nebius-Microsoft deal sparked a rally in AI-focused mining stocks on Tuesday, adding to momentum from the broader AI movement.
AI euphoria also boosted Oracle (ORCL), which surged 30% in pre-market trading on Wednesday. The company, a database software developer that has pivoted to cloud computing, raised its cloud revenue growth forecast to 77% on soaring AI demand, according to Financial Times. Its backlog surged 359% to $455 billion, fueled by massive AI-driven cloud contracts.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
