Better-than-expected Q3 earnings from Nvidia boosted Bitcoin mining stocks in after-hours trading, with Cipher Mining rising over 13%.

According to The Block, GPU manufacturer Nvidia reported strong third-quarter earnings of $57 billion, and its fourth-quarter revenue guidance ($63.7 billion to $66.3 billion) far exceeded the market consensus expectation of $61.98 billion. This positive news boosted the cryptocurrency market and related stocks in after-hours trading on Wednesday. Bitcoin prices rebounded to around $91,000. In after-hours trading on the US stock market, Bitcoin mining companies generally saw their share prices rise, with Cipher Mining leading the gains at over 13%, followed by IREN at approximately 10%, and Bitfarms, TeraWulf, and CleanSpark. MARA, the largest mining company by market capitalization, rose 4%. It is worth noting that with the surge in AI demand, some mining companies are shifting their focus to AI/HPC infrastructure businesses; for example, IREN recently signed a cloud service agreement with Microsoft.