Ten companies ended the trading session on a strong note, soaring by double digits, with general optimism buoyed by President Donald Trump’s trade deal with Vietnam.
Meanwhile, Wall Street indices finished mixed, with the Dow Jones the only loser with 0.02 percent. The Nasdaq and the S&P 500 both rallied by 0.94 percent and 0.47 percent, respectively.
In this article, we name Wednesday’s 10 top-performing stocks and explore the reasons behind their gains. Our list is notably dominated by quantum computing and Bitcoin miners.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
10. Webull Corporation (NASDAQ:BULL)
Webull Corp. rallied for a third consecutive day on Wednesday, jumping 11.54 percent to close at $14.01 apiece as investors continued to scoop up shares following plans to reenter the cryptocurrency market.
The initiative was supported by its recent partnership with Coinbase Global Inc.(NASDAQ:COIN) to allow traders in Brazil to buy and sell digital currencies within its platform. The platform includes real-time trading, available 24/7, and offers access to digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA).
“Webull’s re-entry into crypto restores access to one of our clients’ favored asset classes while reflecting broader market demand for digital asset trading solutions,” said Webull Corporation (NASDAQ:BULL) President and US CEO Anthony Denier.
“Brazil is a rapidly growing market for digital assets, and this launch marks an important step as we bring crypto markets back to our users there through a seamless, secure, and scalable solution. This expansion uniquely positions Webull to deliver a robust digital asset trading experience for our users.”
9. IonQ, Inc. (NYSE:IONQ)
IonQ saw its share prices jump by 11.6 percent on Wednesday to end at $44.75 apiece after Cantor Fitzgerald raised its rating and price target for the company.
In its market note, the investment firm gave IonQ, Inc. (NYSE:IONQ) an “overweight” rating and a price target of $45 on the belief that the quantum computing industry remains to be one of the most highly coveted technical milestones with huge economical implications despite it still being in its early stages of development.
Additionally, it said that the full-scale capabilities of the sector are likely years away from being realized.
Further supporting the sentiment was Texas’s passage of legislation on Monday that would develop a comprehensive strategic plan to advance quantum computing.
IonQ, Inc. (NYSE:IONQ) said it fully supports the initiative, emphasizing the critical role of quantum computing in addressing future cybersecurity and economic challenges.
“The Texas Quantum Initiative is more than just policy. It’s a platform for transformative innovation, secure infrastructure, and inclusive workforce development,” said IonQ, Inc. (NYSE:IONQ) Niccolo de Masi.
8. CleanSpark, Inc. (NASDAQ:CLSK)
CleanSpark extended its winning streak to a third consecutive day on Wednesday, jumping 12.64 percent to close at $12.48 apiece amid a flurry of positive developments, including a rating upgrade and a go-signal for a new mining facility in Tennessee.
In its market note earlier this week, B. Riley gave a “buy” recommendation and a $16 price target on CleanSpark, Inc.’s (NASDAQ:CLSK) stock. The figure represented a 28-percent upside from its latest closing price.
The rating adjustment was buoyed by its achievement of its hash rate target of 50 EH/s on June 24, ahead of the original June 30 schedule.
Meanwhile, the company reportedly secured the approval to build a new mining facility in Mountain City, Tennessee.
With a 3-1 vote, the Mountain City Board of Mayor and Aldermen reportedly approved the development of the facility on a 50-acre site, where CleanSpark, Inc. (NASDAQ:CLSK) plans to construct a 30-megawatt Bitcoin mining facility.
7. MARA Holdings, Inc. (NASDAQ:MARA)
MARA Holdings rallied for a third straight day on Wednesday, surging 13.38 percent to end at $17.80 apiece as investors scooped up shares following plans to ramp up its Bitcoin production by year-end.
In its monthly report released yesterday, MARA Holdings, Inc. (NASDAQ:MARA) said it is targeting to hit 75 EH/s by the end of the year, marking a 40 percent growth from 2024.
The company also reported raising its Bitcoin holdings to 49,940 units last month—an increase of 211 units, albeit lower than the 282 Bitcoins produced in May.
The decrease was primarily due to reduced uptime from weather-related curtailment and the temporary deployment of older machines in Garden City while storm-related damage was being remediated, coupled with natural variability in block luck.
MARA Holdings, Inc. (NASDAQ:MARA) said that the average Bitcoin produced per day settled at 23.8 last month, lower by 23 percent than the 30.7 reported in May.
Energized hash rate was also reduced by 2 percent at $57.4 EH/s versus 58.3 EH/s in the same comparable period.
6. TeraWulf Inc. (NASDAQ:WULF)
TeraWulf rose by 13.51 percent on Wednesday to end at $5.04 apiece, tracking the rally in Bitcoin prices as it tries to rest the $110,000 level.
During the session, TeraWulf Inc. (NASDAQ:WULF) rallied alongside its Bitcoin mining counterparts after the cryptocurrency traded higher to hit a new three-week high, with investors growing more optimistic about the widening adoption of digital assets.
Sentiment was further supported by an investment firm’s recent upgrade of its rating on TeraWulf Inc.’s (NASDAQ:WULF) stock.
Earlier last month, the Bitcoin miner earned a “buy” recommendation and a higher price target of $6 on its stock. The figure marked a 19-percent upside from its latest closing price.
According to Rosenblatt, the rating was based on expectations that the company will start earning revenues from its high-performance computing (HPC) hosting business, making it one of the few Bitcoin miners to secure HPC hosting deals.
Rosenblatt underscored TeraWulf Inc.’s (NASDAQ:WULF) “strong first tenant” and its expertise to execute as key reasons it was likely to attract more interest and grow its HPC in the short term.
5. BigBear.ai Holdings, Inc. (NYSE:BBAI)
BigBear AI jumped by 13.68 percent to close at $7.56 apiece following news that it is taking part in a huge international military exercise to test out and improve advanced technologies for future defense needs.
In a statement yesterday, BigBear.ai Holdings, Inc. (NYSE:BBAI) said it joined forces with partners and allies across Australia, Canada, France, Japan, New Zealand, United Kingdom, and all branches of the United States military to integrate resources and technologies in support of defense transformation efforts for future warfighters.
Called the Project Convergence – Capstone 5 (PC-C5), the initiative aims to test Next Generation Command Control (NGC2) systems using relevant AI models. BigBear.ai Holdings, Inc. (NYSE:BBAI) said that its Virtual Anticipation Network (VANE) platform proved critical in helping forces quickly gain situational awareness and identify emerging threats.
“BigBear.ai is proud that VANE continues to demonstrate operational value in real-world exercises and experiments like PC-C5, involving forces from multiple nations,” said Ryan Legge, President of National Security at BigBear.ai.
“These environments validate the critical role AI plays in supporting faster, more accurate decision-making for warfighters. The feedback we received will inform future enhancements to better serve our mission partners,” he added.
4. Hut 8 Corp. (NASDAQ:HUT)
Hut 8 saw its share prices increase by 14.07 percent on Wednesday to close at $21.08 apiece after securing multiple contracts with the Ontario Independent Electricity System Operator.
In a statement, Hut 8 Corp. (NASDAQ:HUT) said that four of its natural gas-fired power plants in Ontario have been awarded a five-year capacity contract following successful bids submitted in the competitive IESO Medium-Term 2 capacity auction. The contracts, totaling 310 MW of nameplate capacity, will commence on May 1, 2026.
“Securing these contracts is a testament to the commercial and regulatory fluency of our power-native team,” said Hut 8 Corp. (NASDAQ:HUT) CEO Asher Genoot. “It reflects our proactive approach to portfolio management and our focus on identifying value-accretive opportunities to maximize returns on our Power assets.”
The company expected to boost its cash flow through energy sales, on expectations of a 75-percent increase in electricity demand and up to 5.8 GW of capacity shortfall by 2030.
3. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing jumped by 15.45 percent on Wednesday to close at $13.08 apiece as investor sentiment was bolstered by an analyst’s highly optimistic comment about its stock and the quantum computing industry in general.
In its market note on Wednesday, Cantor Fitzgerald gave an “overweight” rating and a $15 price target on its first coverage of Rigetti Computing, Inc.’s (NASDAQ:RGTI) stock, saying that the quantum computing sector poses a huge growth potential despite it being in the early stages and with full scale expected years away.
The price target marked a 15-percent upside from its latest closing price.
“Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economic implications,” the investment firm said.
It added that Rigetti Computing, Inc. (NASDAQ:RGTI), which has $9 million in annual revenues and has yet to book profits, trades at a steep multiple to any near-term revenue or earnings forecast.
2. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies soared by 15.75 percent on Wednesday to close at $13.08 apiece, tracking the rally of Bitcoin prices as it retests the $110,000 level.
During the session, Bitdeer Technologies Group (NASDAQ:BTDR) rallied alongside its Bitcoin mining peers after the cryptocurrency traded higher to hit a new three-week high, with investors growing more optimistic about the widening adoption of digital assets.
Additionally, investors took heart from its fast-growing AI cloud platform Bitdeer AI, with the company planning to evolve its platform into a next-generation cloud service that combines AI-driven automation with adaptive infrastructure.
“It aims to build a truly intelligent cloud—one that anticipates developer needs, automates repetitive tasks, and delivers consistent performance at scale. These enhancements will further lower the barriers to entry for organizations seeking to deploy AI solutions while ensuring robust security and compliance controls,” Bitdeer Technologies Group (NASDAQ:BTDR) said.
1. Cipher Mining Inc. (NASDAQ:CIFR)
Cipher Mining rallied by 15.92 percent on Wednesday to close at $5.68 apiece following news that it exceeded its self-mining capacity guidance for the second quarter of the year.
In a statement, Cipher Mining Inc. (NASDAQ:CIFR) said that the first phase of Black Pearl successfully delivered 3.4 EH/s, exceeding its earlier guidance of 2.5 EH/s, putting its total self-mining hash rate to 16.8 EH/s.
“The company maintains its expectations to scale to ~23.1 EH/s upon completion of the installation,” it sai, adding that hash rate will continue to increase through the third quarter of the year as new mining rigs continue to be delivered in scheduled batches, gradually replacing legacy units.
Additionally, Cipher Mining Inc. (NASDAQ:CIFR) said it was able to mine 160 Bitcoins last month, putting its total ownership at 1,063 after selling 58 during the period.
While we acknowledge the potential of CIFR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CIFR and that has 100x upside potential, check out our report about this cheapest AI stock.
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