Bitcoin’s 23% single-week rally has driven a sharp surge in mining stocks, with some mining shares outperforming AI-related stocks.

Bitcoin has rallied around 23% in a single week recently, driving a sharp rebound in the stocks of Bitcoin mining firms that had underperformed earlier. Some mining stocks have even outperformed AI infrastructure-related equities, indicating a renewed rise in investor attention to direct Bitcoin exposure. Data shows that Canaan, American Bitcoin, and Cango have gained between 41% and 67% recently. In comparison, CoreWeave rose around 21%, Nebius climbed 17%, and IREN increased 15%, while some mining stocks that had shifted to AI and high-performance computing (HPC) businesses earlier were largely flat or declined. BlocksBridge Consulting attributes Bitcoin’s recent rally to three main factors: the U.S. Treasury expanding its long-term U.S. Treasury bond repurchase scale, the Trump administration pushing Congress to pass the crypto market structure bill CLARITY Act, and a short squeeze triggered by Bitcoin’s breakout, which led to over $1.6 billion in crypto market liquidations within 24 hours. Notably, despite mining firms shifting to AI and HPC infrastructure in recent years, Bitcoin prices still have a significant impact on the performance of mining stocks. A previous analysis by BlocksBridge shows that since 2026, the AI and HPC business revenues of nine listed mining firms have reached around $341 million, while their related capital expenditures have hit $5.11 billion—meaning that for every $1 of AI-related revenue, mining firms have spent an average of about $15.