Bitcoin Mining Stocks Stand Out in Market Rebound

Bitcoin Mining Stocks on the Rise

Cryptocurrency mining stocks, including Bitfarms, Cipher Mining, and Bitdeer, experienced a surge on Monday with double-digit gains following the market downturn on Friday.

AI Agreements Revive the Market

Investor optimism has been reinforced by OpenAI's agreement with Broadcom to produce specialized chips for artificial intelligence and machine learning, and Bloom Energy's plans to provide fuel cells for AI data centers through a $5 billion deal with Brookfield Asset Management.

Bitfarms (BITF) gained 26%, Cipher Mining (CIFR) increased by 20%. Bitdeer (BTDR), IREN (IREN), and MARA Holdings (MARA) showed around a 10% increase. These rises reflect optimism that strong demand in the AI field will benefit miners.

Following the sharp drop on Friday, growing trade tensions between the U.S. and China and Trump's imposition of a 100% tariff on Chinese goods had created concerns among investors. However, as these worries lessened over the weekend, both the Nasdaq and S&P 500 indices registered increases of 2.1% and 1.4%, respectively.

Other cryptocurrency-related companies also saw small gains. The world's largest Bitcoin treasury firm, MicroStrategy (MSTR) rose by 2.8%, while the cryptocurrency exchange Coinbase remained stable. The digital brokerage Robinhood, which earns significant income from cryptocurrency trading, saw a 1% increase in its stock.

Meanwhile, the Ethereum treasury company BitMine (BMNR) announced that it had purchased over 200,000 tokens to take advantage of the recent cryptocurrency crash, with the purchases worth over $840 million at current prices. This resulted in a 7% increase.