Crypto-linked equities leapt higher Tuesday, swept up in a wave of optimism as Bitcoin broke past the $90,000 mark, marking a new chapter in the digital asset rally that’s been quietly building momentum. Market sentiment, once shaky, has found fresh footing—and risk is back on the table.
Leading the charge were familiar names. MicroStrategy (MSTR), still the largest corporate holder of BTC, and Coinbase (COIN), one of the sector’s most-watched exchanges, both posted gains in the 8–9% range. But it was the Bitcoin miners who truly outpaced, reflecting the sector’s leveraged sensitivity to crypto price moves. Bitdeer Technologies (BTDR) surged roughly 20%, while peers like Bitfarms (BITF), CleanSpark (CLSK), Cipher Mining (CIFR), MARA Holdings (MARA), and Riot Platforms (RIOT) all rose between 10% and 15%—far outstripping Bitcoin’s own 5% daily increase.
Yet this rebound arrives against a more complex backdrop. While the broader markets also rallied—the Nasdaq and S&P 500 rose 2% and 1.7% respectively on hopes of easing U.S.-China trade tensions—the mining sector is still digging itself out of months of underperformance. Challenges have been compounding: tighter margins, escalating hashrate wars, and now, potentially damaging tariff policies that threaten to choke off critical hardware supply.
The Trump-era tariffs on ASIC machines—essential tools for Bitcoin mining—have become a sticking point for U.S.-based miners. With levies potentially pushing import costs up by over 30%, firms may be forced to pull back expansion plans or redirect them abroad. According to Synteq Digital CEO Taras Kulyk, markets like Canada may soon benefit from this geopolitical friction, offering more stable ground for infrastructure deployment.
Bitdeer, however, is already adapting. The company’s decision to expand its own ASIC manufacturing and pivot toward self-mining rather than hardware sales positions it ahead of the curve. A recent $32 million investment by Tether further underscores market faith in its evolving strategy.
Still, despite today’s rally, caution lingers. Most miner stocks remain near multi-month lows, and with earnings season underway, investors will be watching closely for signals on how companies plan to weather the tariff headwinds. Tesla, another high-profile BTC holder, will report earnings shortly—a potential bellwether for how digital asset exposure is being recalibrated amid shifting global trade winds.
Tariffs may not halt the rally, but they’re not going away either. For crypto investors, today’s gains are welcome—but they come with strings attached.
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