Bitcoin mining stocks climb in 2026 as BTC lags behind

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Top Bitcoin mining stocks by market cap. Source: Bitcoinminingstock.io TeraWulf, Inc. leads the group with gains of about 85%, followed by Hut 8 Corp. at roughly 67% and Riot Platforms, Inc. at around 46%. Other major miners have also posted strong gains, including Core Scientific, Inc., up about 40%, and Applied Digital Corporation, which has risen roughly 37% year-to-date. At the lower end, Bitdeer Technologies Group is up around 5%, making it the weakest performer among the top 10. Outside that group, American Bitcoin Corp., a Trump-linked Bitcoin mining and treasury company formed by Hut 8 and backed by Eric Trump and Donald Trump Jr., is down roughly 29%. The move comes even as Bitcoin (BTC) remains down around 20% YTD, even after gaining about 17% in the past 30 days. Source: CoinGecko Related: Canaan, Tether deepen partnership on immersion-cooled mining systems The gains come as many of the largest mining companies push deeper into artificial intelligence and high-performance computing (HPC). On Thursday, Riot Platforms reported $167.2 million in revenue for the first quarter of 2026, with its data center business contributing $33.2 million, helping offset a decline in core mining revenue. CEO Jason Les described the quarter as an “inflection point,” as the company transitioned into a revenue-generating data center operator. Core Scientific, Inc. is also scaling its infrastructure, with plans to develop a Texas site into an AI-focused data center campus with up to 1.5 gigawatts of capacity, including about 1 gigawatt available for leasing. The company said roughly 300 megawatts currently used for Bitcoin mining at the site will be repurposed for data center operations. In February, HIVE Digital Technologies reported a 219% year-over-year jump in quarterly revenue as it built out its AI and high-performance computing business, as well as a $30 million contract to deploy Nvidia GPUs for enterprise AI cloud customers. That same month, MARA Holdings, Inc. acquired a 64% stake in French AI data center company Exaion. A report from Bernstein last week said IREN Limited, the largest publicly traded miner by market cap, could eventually “sunset” its Bitcoin mining operations as it repurposes sites for GPU-based workloads. Magazine: Why is Ethereum Foundation selling? BTC futures warning signs: Market Moves

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