NVIDIA’s Strong Outlook Fuels Pre-Market Rally in Bitcoin Miners; NAKA Posts Steep Q3 Loss
NVIDIA’s (NVDA) blowout Q3 results and upbeat guidance for the final quarter of the year sparked a strong rebound across AI and high-performance computing (HPC) names in early trading, lifting sentiment among bitcoin miners tied to these sectors. The tech-driven boost helped counter the broader market unease caused by delayed U.S. labor data, fading prospects for further rate cuts, and bitcoin’s roughly 30% correction from its peak.
AI- and HPC-leveraged miners were among the session’s top performers. IREN (IREN) advanced more than 8% to about $50, Cipher Mining (CIFR) jumped 11% to above $16, and Hive Digital (HIVE) gained over 6% to $3.28. Strength across the tech complex added to the momentum, with Invesco QQQ rising more than 1.5% to $610 and NVIDIA rallying more than 5%. The tech upswing also buoyed the U.S. dollar, sending the DXY Index back above 100 for the first time since early November.
NAKA Releases Delayed Quarterly Results
Separately, Kindly MD (NAKA) published its delayed Q3 earnings report. The company recorded $0.4 million in revenue from its medical division, down from $0.6 million in the same quarter last year.
NAKA reported a net loss of $86 million for the period, largely due to non-cash charges tied to its Nakamoto merger and unrealized losses on its bitcoin holdings. As of Sept. 30, the firm held $24 million in cash and owned 5,765 BTC purchased at an average price of $118,204.
The company has allocated 367 BTC toward investments—most notably Metaplanet (3350)—leaving 5,398 BTC in treasury as of Nov. 12. NAKA continues to carry $203 million in convertible notes. Shares traded around $0.54 in pre-market dealings, holding near parity and valuing the company at roughly 0.916 times mNAV.
