Bitcoin mining stock prices fell across the board this week, extending last week’s sell off as the sector cools off after a record run.

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Only two bitcoin mining stock prices were up for the cohort this week: Cipher Mining (+3.3%) and Riot (+1.71%). The rest of the bitcoin mining stocks in our update saw their prices fall over the week: Core Scientific (-0.44%), IREN (-1.22%), Hive (-1.63%), MARA (-4.91%), TeraWulf (-5.12%), Hut 8 (-8.22%), CleanSpark (-8.79%), Bitdeer (-9.78%), and Bitfarms (-14.71%).

This chalks up two negative weeks in a row for the sector a whole, as Bitcoin mining stock prices also fell for the majority of stocks last week.

The bitcoin mining stock prices for each of these companies is still up on the monthly, with all but MARA seeing double digit returns.

Over the past weeks, bitcoin miners have captured headlines with major funding rounds, strategic hires and outsized stakes from sophisticated investors. Jane Street disclosed a 5.4% stake in Bitfarms (29.9 million shares) and a 5.0% holding in Cipher Mining (19.7 million shares).

Bitfarms closed an upsized $588 million convertible notes deal to fund North American AI and HPC infrastructure alongside its mining operations. Hive Digital secured a 100 MW hydroelectric expansion in Paraguay—part of a push to reach 35 EH/s by 2026—and inked a Bell Canada partnership to quintuple its sovereign AI cloud capacity. Galaxy Digital posted a $505 million Q3 profit. 

Executive shake-ups and strategic hires have dotted the landscape this month. MARA ousted its CTO amid scrutiny over its power-management services and off-grid growth plans, reinforcing analyst scepticism about its AI-inference ambitions. CleanSpark broadened its remit beyond bitcoin mining, appointing industry veteran Jeffrey Thomas as SVP of AI Data Centers to spearhead development of GPU-accelerated facilities in Georgia and beyond.

JonesResearch weighed in with a slate of ratings on October 20: Hold on Cipher, IREN, Mara and CleanSpark, while issuing Buy recommendations on Hut 8, TeraWulf and Riot Platforms. As capital flows deepen and miners deploy proceeds into HPC infrastructure, the Bitcoin mining industry is rapidly evolving to support the insatiable demand for AI compute.