The CoinShares Bitcoin Mining ETF (WGMI) soared 12% to a record $33.13, driven by the strong performance of tech stocks influenced by AI demand, particularly after Nebius Group's $17.4 billion agreement to supply GPUs to Microsoft. The ETF has increased 44% year-to-date, exceeding its initial debut price of around $30. Major holdings like IREN and Cipher Mining have demonstrated substantial growth, with gains of 188% and 90%, respectively. This surge follows Oracle's substantial cloud revenue growth forecast of 77%, fueled by a rising need for AI technologies. WGMI now manages $175.7 million in assets with an expense ratio of 0.75%. Overall, the rally showcases the intertwining of the crypto mining sector and the expanding AI market as investors react to these favorable trends in technology and demand for hardware.

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