Bitcoin’s Rise Above $90K Fuels a Rally in Crypto Stocks, with Strategy, Coinbase, and Miners Leading the Charge.

Bitcoin Miners Surge as Bitcoin Crosses $90K, Stock Market Gains Momentum

After weeks of underperformance, bitcoin miners saw significant gains on Tuesday, spurred by Bitcoin’s (BTC) impressive rally above $90,000. The surge in bitcoin’s price reinvigorated investor sentiment in the broader cryptocurrency market, driving up shares of crypto-related stocks.

Bitcoin mining companies led the charge, with stocks such as Bitdeer Technologies (BTDR) climbing 20%, while others like Bitfarms (BITF), CleanSpark (CLSK), Cipher Mining (CIFR), Marathon Digital (MARA), and Riot Platforms (RIOT) posted gains of 10% to 15%.

Shares of Strategy (MSTR), which holds a substantial amount of bitcoin, and the popular crypto exchange Coinbase (COIN) also rose by around 8% to 9% during the session, benefiting from the wider crypto market’s recovery.

In addition to the crypto rally, the traditional stock market rebounded from its previous slump. Both the Nasdaq and S&P 500 were up 2% and 1.7%, respectively, driven by a boost in investor confidence following news of a potential easing of U.S.-China tariff tensions.

Miners Rebound After Months of Struggles

The sharp rebound in mining stocks is notable considering the months of struggles that preceded it. For the past several months, mining companies had been facing declining margins, increased competition, and rising difficulties related to U.S. tariffs on mining equipment. Many publicly traded miners had seen their shares sink to multi-month lows as broader market weakness weighed heavily on risk assets.

The U.S. mining industry in particular has been significantly impacted by the Trump administration’s tariff policy, which has made the import of ASIC miners more expensive. This has created challenges for U.S.-based mining companies, potentially stalling their growth or slowing down expansion plans.

Taras Kulyk, CEO of mining hardware provider Synteq Digital, noted that “the tariffs will materially affect future spending and CapEx in the U.S.” He added that other regions, such as Canada, might see increased investment as the global tariff regime takes effect.

Bitdeer Leads the Charge with Strategic Moves

Bitdeer Technologies has stood out in the recent rally, in part due to the company’s strategy of developing its own ASIC manufacturing business. Rather than selling mining rigs during a slower market, Bitdeer has shifted its focus to self-mining, which has helped it maintain a competitive edge. In addition to this, Tether, the issuer of the USDT stablecoin, has also been accumulating Bitdeer shares, investing $32 million as of last Thursday.

Despite the current surge, miner stocks have been underperforming since December, well before the U.S. tariff policy was implemented. However, with Bitcoin rising past key technical levels and fresh liquidity flowing back into the market, miners are benefiting from what is essentially a leveraged bet on Bitcoin’s upside.

The Impact of Tariffs and Earnings Reports

While the latest rally is encouraging, the ongoing impact of tariffs remains a critical factor for both crypto miners and related stocks. The upcoming earnings season will be crucial for understanding how companies are managing the current geopolitical climate.

Tesla, which holds Bitcoin in its corporate treasury, is expected to report its earnings on Tuesday after market close. Investors will be closely watching for any comments from CEO Elon Musk about how the company plans to navigate the current tariff environment and its potential impact on the broader market.

As earnings season kicks off, it will be important to gauge how mining companies and other crypto-related firms are positioning themselves in light of the trade tensions and tariffs, and whether the latest rally can be sustained in the face of such external pressures.