Bitcoin Mining Stocks Surge as Jobs Data Sparks Market Rally
TLDR
Bitcoin mining stocks gained 13% to 28% over four trading sessions as US markets closed early for Independence Day
Strong US jobs report showed 147,000 new jobs in June with unemployment falling to 4.1% from 4.3%
VanEck Digital Transformation ETF rose 3.2% on Thursday and is up over 20% year-to-date
Mining stocks followed broader market gains as S&P 500 and Nasdaq hit new all-time highs
Bitcoin price reached $110,541 on Friday and is up nearly 2% over the past seven days
Bitcoin mining stocks posted strong gains over the past week despite a pullback on Thursday. The rally came after positive economic data supported market optimism.
Shares of major mining companies surged between 13% and 28% over four trading sessions. Riot Platforms (RIOT), Hive Digital (HIVE), Hut 8 (HUT8), MARA Holdings (MARA), and Bitfarms (BITF) all posted double-digit gains.
The gains occurred as US markets closed early on Thursday ahead of the Independence Day holiday weekend. Mining stocks followed broader market trends that pushed major indexes to new highs.
Jobs Report Exceeds Expectations
The Bureau of Labor Statistics reported that the US economy added 147,000 jobs in June. The unemployment rate fell to 4.1% from 4.3% in the previous month.
🚨 Just In: June Nonfarm Payrolls rise 147,000, above expectations for 111,000.
The U.S. Unemployment Rate holds falls to 4.1%, compared to 4.3%.
What will Jerome Powell do now? pic.twitter.com/AXIlA0lkji
— Jesse Cohen (@JesseCohenInv) July 3, 2025
These figures exceeded Wall Street’s expectations and sparked gains across equity markets. The S&P 500 Index and Nasdaq Composite Index reached new all-time highs in Thursday’s shortened session.
Workforce participation dropped to its lowest level since 2022. Economists attributed this decline to an immigration crackdown that may be tightening labor supply.
The VanEck Digital Transformation ETF rose by as much as 3.2% on Thursday. The fund tracks an index of 24 publicly listed digital asset firms including Coinbase (COIN), Circle (CRCL), and MicroStrategy (MSTR).
The VanEck fund is up over 20% year-to-date. It includes several mining companies along with other crypto-focused businesses.
Bitcoin Price Gains
Bitcoin reached a session high of $110,541 on Friday before pulling back in midday trading. The cryptocurrency is up nearly 2% over the past seven days.
The stronger-than-expected jobs report likely rules out immediate rate cuts this summer. However, crypto research strategist Matt Mena at 21Shares said the broader macro picture remains supportive of rate cuts.
Mena noted that the current macro backdrop is the kind in which digital assets tend to thrive. He pointed to the potential for lower interest rates and improving risk sentiment.
The analyst also mentioned the prospect of regulatory clarity through the market structure bill and the GENIUS Act. These developments could further support the crypto sector.
Despite Thursday’s pullback, mining stocks maintained their weekly gains. The sector continues to track broader market movements and Bitcoin price action closely.
The post Bitcoin Mining Stocks Surge as Jobs Data Sparks Market Rally appeared first on CoinCentral.
Filed under: News - @ July 4, 2025 9:27 am