Bitcoin Mining Stocks Weekly - W22 25

Last week brought a recovery and renewed momentum for the S&P 500, capping off a strong May. The Nasdaq 100 also delivered solid gains for the month, despite some end-of-week volatility. Given that, let’s take a closer look at the Bitcoin mining sector.

Index Update

5-D Volatility: Shown as above, mining stocks once again outpaced Bitcoin in volatility. Here’s how they performed compared to other major stocks 👇👇

Major Company Updates

1. Digi Power X establishes US$100 million at-the-market equity program to accelerate growth (link)
2. Northern Data AG received expressions of interest from US-listed companies to enter into discussions focused on merging or acquiring its Taiga Cloud and Ardent divisions (link)
3. Canaan Inc. announces up to US$30 million share repurchase program (link)
4. TeraWulf acquires Beowulf Electricity & Data, streamlining corporate structure (link)
5. DMG Blockchain Solutions Inc. announces enablement of carbon neutral Bitcoin transactions via Systemic Trust Company (link)
6. HIVE Digital Technologies surpasses 10 EH/s of bitcoin hashrate as expansion in Paraguay accelerates (link)

Must Read: Cango Inc. completes PRC business sale, strengthens board to drive global Bitcoin focus (link)

What Happened: On May 27, 2025, CANG completed the sale of its PRC business to Ursalpha Digital Limited for approximately US$351.94 million in cash, marking a major strategic shift toward focusing entirely on global Bitcoin mining. The move frees up significant capital, removes risks tied to its PRC origin, and enables Cango to expand operations across regions like North America, the Middle East, South America, and East Africa.

Bitcoin 2025 took place last week in Las Vegas, with a strong presence from many bitcoin mining companies. Did you have a favorite talk or any standout takeaways? I’d love to hear what caught your attention.

That’s all for this week! Feel free to drop us a message if you have any suggestions, feedback, or just want to say hi.

Thanks for being part of our journey-see you next week!

Cindy & the BMS Team 💜