Several Bitcoin mining stocks finished the week with double-digit gains, despite a big drop in the Friday afternoon trading session following President Trump’s announcement regarding tariffs on China.
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San Antonio-based miner HIVE (Nasdaq: HIVE) took the lead with a 40% return from Monday’s open to Friday’s close. BitFarms (Nasdaq: BITF) followed in second place with a return of 31%.
However, almost all asset classes struggled on Friday after Trump’s renewed threats against China. BlackRock’s IBIT Bitcoin ETF closed down 3.7% from the previous day’s close, while the SPY and QQQ ETFs were down 2.7% and 3.5%, respectively.
One month’s returns were especially impressive. BITF and HIVE returned over 100% from the September 10 open to the October 10 close. IREN (Nasdaq: IREN) stock nearly doubled during this same time, opening at $30.68 on September 10 and closing just below $60 on October 10.
The average monthly performance of these miners was 73.26%.
The CoinShares Bitcoin Mining ETF (WGMI) was down 3.9% from the previous day’s close.