Crypto News Today: CoinShares Bitcoin Mining ETF Hits Record $33 as AI Rally Lifts Mining Stocks

Key TakeawaysThe CoinShares Bitcoin Mining ETF (WGMI) surged 12% to a record $33.13, now 44% higher year-to-date.Top holdings IREN (+188%) and Cipher Mining (+90%) powered the rally.Broader AI momentum, including Oracle’s cloud surge, lifted mining and tech-linked stocks.WGMI Surpasses Debut PriceThe CoinShares Bitcoin Mining ETF (NASDAQ: WGMI) climbed 12% on Tuesday to $33.13, its highest level since launch. The move pushes WGMI 44% higher year-to-date, finally surpassing its $30 debut level.The ETF, which manages $175.7 million in assets with a 0.75% expense ratio, benefited heavily from its top two holdings:IREN (Iris Energy): +188% YTDCipher Mining (CIFR): +90% YTDBoth firms are positioned at the intersection of Bitcoin mining and AI compute infrastructure, a sector seeing renewed attention from institutional investors.AI Momentum Extends to Crypto MiningThe rally followed news that Nebius Group signed a $17.4 billion deal to supply GPUs to Microsoft, underscoring surging demand for AI infrastructure. The deal sparked gains across AI-related equities, with Bitcoin mining companies increasingly viewed as indirect beneficiaries due to their high-performance computing (HPC) capabilities.Oracle (ORCL) also added fuel to the momentum. Shares jumped 30% in pre-market trading Wednesday after the firm:Raised its cloud revenue growth forecast to 77%.Reported a 359% surge in backlog to $455 billion, driven by AI-driven cloud contracts.ETF OutlookWGMI’s rally highlights the convergence of AI and crypto mining, as miners diversify into GPU leasing and cloud infrastructure. With Bitcoin consolidating above $113K and AI stocks extending record-breaking gains, ETFs like WGMI are increasingly seen as dual-play exposure to crypto and AI growth narratives.