Nvidia and Bitcoin rallies boost mining and crypto stocks

Nvidia’s strong earnings and Bitcoin’s rally drove tech and crypto stocks higher. Mining stocks outperformed AI peers, while Hyperliquid Strategies hit a record high on crypto treasury gains.

Nvidia shares soared 6.7% in premarket trading after posting robust fiscal second-quarter results and providing an outlook that exceeded expectations. Revenue reached $96.2 billion, marking a 106% year-over-year increase. Bitcoin climbed 2.4% to nearly $80,400 as technology futures rallied. Bitcoin mining stocks such as Canaan, American Bitcoin, and Cango surged up to 67% over the week, outperforming AI-focused infrastructure stocks. The rally was fueled by a 23% rise in Bitcoin, US Treasury liquidity-support buybacks, regulatory optimism following a White House meeting, and a significant short squeeze that liquidated over $1.6 billion in crypto positions. Hyperliquid Strategies stock jumped 20% to a record high after reporting $553 million in treasury-related income, driven by unrealized gains on its HYPE token holdings, ending the year with over $2 billion in assets and no debt.