NVIDIA’s Blowout Quarter Propels AI-Focused Bitcoin Miners Higher; NAKA Reveals Deep Q3 Losses
NVIDIA’s (NVDA) stronger-than-expected Q3 earnings and upbeat Q4 forecast have reignited investor appetite for AI and high-performance computing (HPC) plays, sending related bitcoin miners higher in pre-market trading. The results helped stabilize sentiment after weeks of volatility tied to delayed U.S. jobs data, fading hopes for additional rate cuts, and bitcoin’s sharp 30% retreat from record levels.
AI/HPC-aligned miners led the advance early Thursday. IREN (IREN) climbed over 8% to roughly $50, Cipher Mining (CIFR) jumped 11% past $16, and Hive Digital (HIVE) gained more than 6% to $3.28. Broader tech also bounced, with Invesco QQQ up more than 1.5% to $610 and NVIDIA itself rallying over 5%. The renewed strength in tech contributed to a firmer U.S. dollar, pushing the DXY Index above 100 for the first time since Nov. 5.
NAKA Provides Delayed Q3 Results
Meanwhile, Kindly MD (NAKA) released its long-delayed Q3 earnings. The firm reported $0.4 million in revenue from its medical operations, down from $0.6 million a year earlier.
NAKA posted an $86 million net loss for the quarter, a figure driven largely by non-cash charges connected to the Nakamoto merger and unrealized losses on its sizable bitcoin reserves. As of Sept. 30, the company held $24 million in cash and owned 5,765 BTC at an average purchase price of $118,204.
Of that total, 367 BTC has been deployed into investments—including Metaplanet (3350)—leaving 5,398 BTC in treasury as of Nov. 12. The firm also carries $203 million in convertible notes.
NAKA shares were last trading at $0.54 in pre-market hours, essentially unchanged and valuing the stock at roughly 0.916 times mNAV.
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