Shares of several bitcoin mining companies with exposure to the AI data center trade jumped sharply on Thursday, according to market data cited by PANews from Bybit. IREN led the move with a 30.54% gain, followed by Bitdeer at 24.72%. Riot Platforms rose 21.27%, CleanSpark added 21.07%, and HIVE Digital climbed 18.34%.
The Block linked the move to the forced liquidation of a public equity portfolio held by Situational Awareness, a hedge fund associated with former OpenAI researcher Leopold Aschenbrenner. To meet margin calls, the fund reportedly sold out of its positions, while Citadel, the firm founded by Ken Griffin, took on most of the shares. After news of the liquidation circulated, mining stocks that had faced heavy selling over the previous weeks rebounded.
Shares of bitcoin miners connected to the shift into AI data centers climbed sharply on Thursday, according to Bybit market data cited by PANews.
Mining stocks posted broad gains on Thursday
IREN closed up 30.54% for the session. Bitdeer gained 24.72%, Riot Platforms rose 21.27%, CleanSpark added 21.07%, and HIVE Digital advanced 18.34%.
The Block tied the move to a forced liquidation
The Block said the rally was related to the forced liquidation of a public stock portfolio held by Situational Awareness, a hedge fund linked to former OpenAI researcher Leopold Aschenbrenner. The fund reportedly liquidated its holdings to meet margin calls, and Citadel, founded by Ken Griffin, took over most of the shares.
After news of the liquidation spread, the mining stocks, which had been under heavy selling pressure for the previous several weeks, rebounded.
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