NVIDIA’s Strong Guidance Fuels Pre-Market Rally in Bitcoin Miners as NAKA Reports Delayed Q3 Losses
NVIDIA’s (NVDA) Q3 earnings beat and bullish Q4 forecast have ignited a strong rebound in pre-market trading, particularly among bitcoin miners tied to AI and high-performance computing (HPC). The earnings surprise helped stabilize market sentiment after several weeks of pressure driven by delayed U.S. employment data, reduced expectations for near-term rate cuts, and bitcoin’s 30% correction from its record highs.
AI/HPC-focused miners saw some of the biggest gains. IREN (IREN) jumped more than 8% to roughly $50, Cipher Mining (CIFR) advanced 11% past $16, and Hive Digital (HIVE) rose over 6% to $3.28. Broader technology shares also strengthened, with the Invesco QQQ up more than 1.5% near $610 and NVIDIA itself gaining over 5%. The tech rebound pushed the DXY Index back above 100 for the first time since Nov. 5.
NAKA Q3 Results
Meanwhile, Kindly MD (NAKA) finally released its delayed Q3 earnings. Revenue from its medical unit came in at $0.4 million, down from $0.6 million a year earlier.
The company reported an $86 million net loss for the quarter, driven primarily by non-cash charges related to its Nakamoto merger and unrealized losses on its bitcoin holdings. As of Sept. 30, NAKA held $24 million in cash and owned 5,765 BTC at an average purchase price of $118,204.
The company has deployed 367 BTC into investments—including a position in Metaplanet (3350)—leaving 5,398 BTC in treasury as of Nov. 12. NAKA also carries $203 million in convertible notes.
Shares traded at $0.54 in pre-market action, largely unchanged, valuing the company at 0.916 times mNAV.
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