AI and HPC Bitcoin Miners Experience Significant Gains After NVIDIA Earnings
- NVIDIA (NVDA) reported Q3 earnings that exceeded expectations, boosting tech stocks in pre-market trading.
- AI/HPC bitcoin miners saw substantial stock increases, with IREN up over 8% to about $50 and Cipher Mining rising by 11% to over $16.
- Hive Digital’s shares increased by more than 6%, reaching $3.28 amid the tech sector rebound.
- The DXY Index rose above the key level of 100 for the first time since November, supported by strong tech performance.
- Kindly MD (NAKA) reported a Q3 revenue of $0.4 million but incurred an $86 million net loss due to merger-related charges and unrealized bitcoin losses.
The positive earnings from NVIDIA have provided a boost to AI and HPC-related stocks, particularly benefiting bitcoin miners. NAKA’s financial struggles highlight the volatility within the sector, with significant unrealized losses impacting its bottom line.
Overall, NVIDIA’s strong performance has led to notable gains for AI/HPC bitcoin miners, with IREN and Cipher Mining showing significant stock price increases of over eight and eleven percent respectively. (Source)
