Bitcoin’s Surge Past $90K Sparks a Rally in Crypto Stocks, Including Strategy, Coinbase, and Miners.

Crypto Stocks Surge as Bitcoin Pushes Past $90K, Miners Lead the Charge

Bitcoin’s (BTC) recent surge above the $90,000 mark has sparked a strong rally across crypto-related stocks, with mining companies leading the charge. Bitcoin’s newfound momentum has lifted investor sentiment across the sector, driving substantial gains for both miners and other crypto assets.

Shares of major players in the crypto space, including Strategy (MSTR) and Coinbase (COIN), gained between 8% and 9% during the session, reflecting broader optimism. However, it was the mining stocks that saw the most impressive gains, with many companies posting double-digit increases, outpacing BTC’s 5% rise. Bitdeer Technologies (BTDR) surged by approximately 20%, while Bitfarms (BITF), CleanSpark (CLSK), Cipher Mining (CIFR), Riot Platforms (RIOT), and Marathon Digital (MARA) all jumped between 10% and 15%.

In the broader market, traditional stock indexes also saw notable rebounds, with the Nasdaq rising by 2% and the S&P 500 climbing 1.7%. This boost in traditional equities came after reports suggested a potential easing of U.S.-China trade tensions, which helped lift investor morale.

Miners Bounce Back from Prolonged Struggles

After facing months of declining performance, driven by narrowing profit margins, increased competition, and rising operational costs due to tariffs on mining hardware, miners are finally seeing a strong rebound. Bitcoin’s recent price surge has come at a pivotal time for these companies, many of which were previously trading near multi-month lows.

The U.S. tariff policy, which has made mining hardware like ASIC machines more expensive to import, has posed significant challenges for U.S.-based mining operations. With higher equipment costs and tighter margins, many U.S. miners had been struggling to maintain growth.

“The tariffs will significantly impact future capital spending in the U.S.,” noted Taras Kulyk, CEO of Synteq Digital. He added that miners may look to expand into regions like Canada, which could benefit from the new tariff regime.

Bitdeer’s Strategy and Tether’s Support

One company that has been capitalizing on this market shift is Bitdeer Technologies. The company, which recently pivoted from selling mining rigs to developing its own self-mining operations, has seen substantial growth. In addition to its strategic move, Bitdeer has attracted investment from Tether, which purchased $32 million worth of BTDR shares, further strengthening the company’s position.

While Bitdeer has performed well, other miners are still recovering from the impact of the previous market downturn. As BTC climbs above key resistance levels, these miners are catching a bid, acting as a leveraged proxy for bitcoin’s upward momentum.

Tariff Risks Still Loom

Despite the strong performance in mining stocks today, the looming impact of tariffs continues to pose risks to U.S. miners. As the earnings season approaches, many will be watching for insights on how companies are navigating these geopolitical risks.

Tesla, which holds a substantial amount of bitcoin, is set to report earnings after market close on Tuesday. Investors will be particularly interested in CEO Elon Musk’s comments on how the evolving tariff situation might affect Tesla’s outlook, especially in light of the company’s crypto exposure.

As the market digests the effects of bitcoin’s recent rally, the longer-term outlook will depend heavily on how crypto companies, especially miners, address the challenges posed by tariffs and other macroeconomic factors.

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