Trump-backed American Bitcoin jumps 14% to lead rally in mining stocks
Shares of major publicly traded bitcoin miners moved higher Monday, tracking a renewed rally in crypto markets overnight.Bitcoin rose more than 2% over the past 24 hours, topping $93,000 as traders digested a mix of geopolitical developments and early-year positioning across global markets.Mining stocks broadly followed bitcoin higher, with American Bitcoin Corp. (ticker ABTC) leading the group. Shares of the Eric and Donald Trump Jr.–backed miner jumped roughly 14% in early trading, pushing the stock back above $2 for the first time in about a month, according to The Block price data.American Bitcoin (ABTC) stock price chart. Source: The Block/TradingViewThe move comes after a volatile end to 2025 for American Bitcoin, which slid to record lows in mid-December following the expiration of a post-merger lockup, even as the company continued to build its bitcoin treasury.The miner disclosed last month that it had accumulated more than 5,000 BTC, placing it among the top 20 corporate bitcoin holders.Honourable mentionsOther large mining stocks also posted solid gains as bitcoin rebounded.Shares of Canaan rose more than 9%, extending a recovery that has followed a turnaround in gross profitability and stronger hardware sales tied to new-generation rigs and North American deployments.Bitfarms added over 8% after recently completing its exit from Latin America and refocusing its energy portfolio on U.S.-based infrastructure suited for AI and high-performance computing workloads.Mid-cap miners HIVE Digital Technologies and Hut 8 also moved higher, gaining more than 7% and 6%, respectively. Both companies spent much of 2025 repositioning their mining fleets and power assets to support AI-focused data center development, with Hut 8 in particular drawing investor attention after securing long-dated, contracted cash flows tied to a large-scale AI colocation project.Shares of other major miners, including Cipher Mining, CleanSpark, MARA Holdings, IREN, and Bitdeer Technologies, were also higher by roughly 5% to 6%.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.