Shares of crypto-linked companies rallied as the price of Bitcoin (BTC) surged past $90,000, marking a fresh high and reigniting interest across the sector. Bitcoin climbed more than 2.8% in just one hour, reaching $90,000 from around $85,966.62, triggering gains across mining stocks, trading platforms, and cryptocurrency infrastructure firms.
Among the top performers, Bitcoin miner Hut 8 (HUT) surged 14.4% to $42, outperforming the broader sector. Rival miner CleanSpark (CLSK) rose 5.1% to over $12 shortly after the opening bell, while Riot Platforms (RIOT) climbed 3.5% to nearly $14.
These mining companies rely heavily on Bitcoin’s price for revenue, with higher BTC prices typically translating to improved mining margins and a more sustainable operating environment. Notably, Hut 8 also jumped 20% in early trading following the announcement of a 15-year, $7 billion lease agreement with AI infrastructure firm Fluidstack.
Potential catalysts behind the broader rally include speculation around Federal Reserve leadership. Traders are considering Fed Governor Chris Waller as the frontrunner to succeed Jerome Powell as Chair of the Federal Reserve. Waller has expressed dovish views, suggesting the neutral federal funds rate may be 50 to 100 basis points lower than previously expected. However, prediction markets indicate that traders remain cautious about imminent rate cuts. On Polymarket, there is a 77% probability assigned to no rate cut next month, with Kalshi and CME’s FedWatch showing similar odds near 78%.
Coinbase (COIN), the largest publicly traded crypto exchange in the U.S., also posted solid gains, rising 2.27% to $258. As Coinbase earns revenue from trading volumes, which tend to spike during volatile periods like December, the company is expected to unveil a series of upgrades later in the day. These updates are anticipated to include tokenized assets, on-chain AI agents, and new features for its Base platform.
Bitcoin treasury firm MicroStrategy (MSTR), which holds 671,268 BTC valued at approximately $60.3 billion, saw its shares rise 1.6% to $170.
While Bitcoin’s price surged above the $90,000 mark, other major cryptocurrencies followed suit. Ether increased 2.3% within an hour, surpassing $3,000, while XRP climbed 2.5% to nearly $2.
Overall, the broader crypto market is showing signs of renewed momentum after weeks of consolidation, signaling a potentially strong finish to the year.
Read more: Bitcoin shorts scramble for the exits as BTC climbs.
https://bitcoinethereumnews.com/bitcoin/crypto-stocks-jump-as-bitcoin-suddenly-breaks-90000-hut-and-coin-lead-gains/
