BTC Miners are the Biggest Beneficiaries of Stellar NVIDIA Earnings

After NVIDIA (NVDA) beat Q3 earnings and issued a strong Q4 outlook, artificial intelligence (AI) and high-performance computing (HPC) related stocks have surged in pre-market trading.

The beat in expectations helped calm recent market jitters sparked by U.S. jobs data delays, fading rate cut expectations, and a 30% pullback in bitcoin from its record high.

AI/HPC bitcoin miners have been the biggest beneficiaries of the stellar earnings beat.

IREN (IREN) is up more than 8% at about $50, Cipher Mining (CIFR) is up 11% at over $16, and Hive Digital (HIVE) is up more than 6% at $3.28. Broader tech has also bounced, with Invesco QQQ up over 1.5% at $610 and NVIDIA (NVDA) up more than 5%. The strength in tech is supporting the DXY Index, which is back above 100 for the first time since Nov. 5.

NAKA Q3 Earnings

In addition, Kindly MD (NAKA) reported Q3 earnings after initially delaying results. The company posted $0.4 million in revenue for its medical business, down from $0.6 million in Q3 2024.

NAKA recorded an $86 million net loss in Q3 2025, driven by non-cash charges from the Nakamoto merger and unrealized bitcoin losses.

As of Sept. 30, NAKA reported $24,185 in cash on hand and holds 5,765 BTC at an average price of $118,204.

The company has deployed 367 BTC for investments including in Metaplanet (3350), leaving 5,398 BTC in treasury as of Nov. 12; it also carries $203 million in convertible notes. NAKA is trading at 0.916 times mNAV, with shares at $0.54, little changed in pre-market.