Bitcoin’s growth of more than 20% in a short period did not go unnoticed in the stock markets. Mining companies attracted the most attention, with their shares jumping by tens of percent in some cases, outperforming even some artificial intelligence firms. The market thus reminded us once again that regardless of ambitions in AI, the price of Bitcoin remains the most important driver for miners.
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Miners Show Again How Strongly They React to Bitcoin
Among the most prominent winners of the recent rally were Canaan, American Bitcoin, and Cango, whose shares rose approximately 41 to 67%. Their performance thus surpassed companies like CoreWeave, Nebius, or IREN. Investors made it clear that in an environment of rapidly rising Bitcoin, direct exposure to cryptocurrency may be more attractive than a story based on future returns from AI infrastructure.
The BTC growth itself was supported by a combination of several factors. The U.S. Treasury announced a plan to increase the volume of buybacks of long-term government bonds, which may contribute to higher liquidity in financial markets. More favorable expectations around cryptocurrency regulation in the U.S. also had a positive effect. Another impulse came from a short squeeze, during which cryptocurrency positions worth over $1.6 billion were liquidated within 24 hours.
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AI Doesn’t Yet Earn Miners as Much as It Costs
Many Bitcoin miners have been trying to change their profile in recent years, shifting part of their infrastructure toward artificial intelligence and high-performance computing. The goal is to reduce dependence on Bitcoin’s price and create more stable revenue sources. The problem is that this transformation is extremely capital-intensive so far. According to BlocksBridge analysis, publicly traded miners invest approximately $15 in AI data centers for every dollar of revenue this segment generates.
The current rally thus shows a simple reality: AI may be an interesting long-term direction for miners, but their results and valuations are still very closely tied to Bitcoin. A higher BTC price immediately increases the value of mined coins while attracting capital back into the entire sector. The development is therefore closely watched not only by investors but also by companies operating in the cryptocurrency market, including the global crypto exchange BITmarkets. If Bitcoin continues to grow, mining stocks may remain among the most sensitive beneficiaries. However, the same connection works in reverse — in the event of a sharp reversal in the crypto market, miners can lose significantly faster than the broader technology sector.
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