By Edwin Ziheng Wang
Publication Date: 2025-11-20 16:42:00
Bitcoin mining stocks moved higher on Thursday as Nvidia’s stronger-than-expected quarterly results added momentum to Bitcoin miner-turned AI factory equities. IREN (Nasdaq: IREN) rose 9%, TeraWulf (Nasdaq: WULF) rose 9%, Core Scientific (Nasdaq: CORZ) gained 5%, and Cipher Mining (Nasdaq: CIFR) advanced 13% during the morning trading hours. Bitcoin fell 1% over the past 24 hours.
Nvidia reported Q3 revenue growth of 62%, its first acceleration in seven quarters. The chipmaker’s results added roughly $300 billion in market value to AI-related stocks within minutes, according to a Reuters report.
In an August report, JP Morgan noted that publicly traded bitcoin miners with hyperscale contracts have been decoupling from bitcoin prices. The trend accelerated following Thursday’s market reaction to Nvidia’s earnings.
Cipher Mining shares climbed 10% after the company called a 56-megawatt, 10-year hosting contract with Fluidstack an expansion of its existing agreement. The deal adds about $830 million in contracted revenue and lifts total contracted revenue with Fluidstack to about $3.8 billion. The company plans to issue $333 million of secured notes backed by the Barber Lake project structure. Google expanded its backstop of Fluidstack’s obligations by $333 million, bringing the total to $1.73 billion.
Cipher said 39 megawatts of the new capacity are expected online by January 2027 at its Barber Lake site in Colorado City, Texas. The company…
