NVIDIA Earnings Spark Pre-Market Rally in AI-Linked Bitcoin Miners; NAKA Posts Steep Q3 Loss
NVIDIA’s (NVDA) strong Q3 results and confident Q4 outlook have injected fresh momentum into pre-market trading, sending AI and high-performance computing (HPC)–aligned bitcoin miners sharply higher. The upbeat guidance helped ease broader market concerns that had been fueled by delayed U.S. jobs data, weakening rate-cut expectations, and bitcoin’s recent 30% slide from its all-time high.
AI/HPC-focused miners were among the biggest early movers. IREN (IREN) climbed more than 8% to around $50, Cipher Mining (CIFR) surged 11% above $16, and Hive Digital (HIVE) advanced over 6% to $3.28. Tech stocks broadly participated in the rebound as well—Invesco QQQ gained more than 1.5% to $610, while NVIDIA jumped over 5%. The strength across tech helped push the DXY Index back above 100 for the first time since Nov. 5.
NAKA’s Q3 Update
Separately, Kindly MD (NAKA) released its delayed third-quarter results. Revenue from its medical division fell to $0.4 million, down from $0.6 million in the same quarter of 2024.
NAKA reported a net loss of $86 million for Q3 2025, largely tied to non-cash expenses related to its Nakamoto merger and unrealized losses on its bitcoin holdings. As of Sept. 30, the company held $24 million in cash and 5,765 BTC purchased at an average price of $118,204.
The company has deployed 367 BTC into various investments—including Metaplanet (3350)—leaving 5,398 BTC remaining in treasury as of Nov. 12. NAKA also lists $203 million in convertible notes on its balance sheet.
Shares traded at $0.54 in pre-market hours, little changed and reflecting a valuation of 0.916 times mNAV.
