A Scintillating September for a Crypto Mining ETF

Core Insights - Bitcoin miners' shares are outperforming Bitcoin itself, as evidenced by the CoinShares Valkyrie Bitcoin Miners ETF (WGMI) [1][2] - WGMI has seen a significant price increase from $31.64 on September 2 to over $42 by September 19, indicating a strong rally [2] - The growth of WGMI is attributed to fundamental factors beyond Bitcoin price expectations, including the miners' diverse revenue streams and technological advancements [3][5] Industry Developments - Bitcoin mining has achieved a historic milestone with the 14-day moving average hashrate surpassing 1 zetahash per second, marking a significant scale increase in the industry [5] - The mining difficulty is set to exceed 140 trillion, reflecting the ongoing industrialization of Bitcoin mining despite margin pressures [5] - The expansion of revenue streams in the cryptocurrency mining sector is becoming increasingly relevant for investors [5] Company Highlights - TeraWulf (WULF), a top holding in WGMI, is leveraging its technology for gains in AI, contributing to its stock performance this year [6] - Strategic partnerships, particularly with Fluidstack and Google, have bolstered TeraWulf's business model, providing stable revenue and enhancing credibility in the competitive landscape [7]