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Bitcoin has recently surged by about 23% in a single week, driving a sharp rebound in previously underperforming Bitcoin mining stocks.

Some mining companies have even outperformed AI infrastructure-related stocks, demonstrating investors' renewed focus on direct exposure to Bitcoin.

Data shows that Canaan, American Bitcoin, and Cango have recently surged by 41% to 67%; in comparison, CoreWeave has risen by about 21%, Nebius by 17%, and IREN by 15%.

Some mining stocks that had previously shifted to AI and High-Performance Computing (HPC) have remained relatively flat or experienced a decline.

BlocksBridge Consulting believes that Bitcoin's recent surge is mainly driven by three key factors: the U.S.

Treasury expanding the scale of long-term Treasury repurchases, the Trump administration pushing Congress to pass the "CLARITY Act" for the crypto market structure, and a short squeeze triggered after Bitcoin's breakout, with the crypto market liquidation exceeding $1.6 billion within 24 hours.

It is worth noting that despite mining companies' recent transition to AI and HPC infrastructure, Bitcoin's price still has a significant impact on mining stock performance.

Previous analysis by BlocksBridge showed that since 2026, the AI and HPC business revenue of 9 listed mining companies is approximately $341 million, while the related capital expenditures have reached $5.11 billion, meaning that for every $1 of AI-related revenue generated, mining companies on average invest around $15.