Finance

Bitcoin Miners Soar: How Trump’s Tariffs Sparked a Buying Opportunity

Bitcoin miners like HIVE and BitFarms saw big gains despite Friday’s market dip after Trump’s tariff news.

October 10, 2025, 6:44 PM

A golden bull sculpture, a symbol of bullish market trends, likely represents the cryptocurrency market.

The golden bull sculpture stands as a bold symbol of bullish market trends and the ever-evolving landscape of cryptocurrency. By MDL.

Executive Summary

Bitcoin mining stocks, notably HIVE and BitFarms, recorded substantial weekly gains (e.g., 40% and 31%) and over 100% monthly returns despite broader market downturns.

A market dip on Friday, October 10, 2025, affecting various asset classes including Bitcoin ETFs and the CoinShares Bitcoin Mining ETF, was attributed to President Trump’s announcement of new tariffs on China.

Collectively, Bitcoin miners demonstrated significant resilience and strong growth, achieving an average one-month return of 73.26%.

The Story So Far

The Bitcoin mining sector had been experiencing significant growth, with several companies achieving over 100% returns in the month leading up to October 10, 2025, indicating a strong underlying market. However, a broader market downturn on October 10, impacting various asset classes including Bitcoin-related ETFs, was triggered by President Trump’s announcement of new tariffs on China, though individual mining stocks still demonstrated substantial weekly gains and resilience despite this dip.

Why This Matters

Despite a broader market downturn triggered by President Trump’s announcement of new tariffs on China, Bitcoin mining stocks demonstrated significant resilience and delivered substantial weekly and monthly gains, with some achieving over 100% returns in the past month. This strong performance, even as traditional and broader crypto ETFs declined, suggests a robust underlying investor confidence in the Bitcoin mining sector and its potential to either decouple from or withstand broader macroeconomic pressures.

Who Thinks What?

Bitcoin mining stocks, such such as HIVE and BitFarms, demonstrated significant resilience and strong growth, recording substantial weekly and one-month gains despite broader market downturns.

President Trump’s announcement of new tariffs on China is viewed as the catalyst for a broader market downturn on Friday, impacting various asset classes.

Traditional ETFs, including BlackRock IBIT Bitcoin ETF, SPY, QQQ, and the CoinShares Bitcoin Mining ETF (WGMI), experienced declines following President Trump’s tariff threats.

Bitcoin mining stocks recorded substantial weekly gains, with some achieving double-digit returns, despite a broader market downturn on Friday, October 10, 2025. This dip was largely attributed to President Trump’s announcement of new tariffs on China, which impacted various asset classes in afternoon trading.

Weekly Performance Highlights

Leading the charge, San Antonio-based HIVE (Nasdaq: HIVE) saw an impressive 40% return from Monday’s open to Friday’s close. BitFarms (Nasdaq: BITF) also posted strong performance, securing a 31% return over the same period.

Market Reaction to Tariff Announcement

However, Friday’s trading session presented challenges across nearly all asset classes following President Trump’s renewed threats against China. The BlackRock IBIT Bitcoin ETF closed down 3.7% from the previous day, while the SPY and QQQ ETFs experienced declines of 2.7% and 3.5%, respectively.

The CoinShares Bitcoin Mining ETF (WGMI) was also affected, dropping 3.9% from its prior day’s close amidst the market volatility.

One-Month Returns Underscore Strength

Looking at a broader timeframe, the one-month returns for these mining stocks were particularly striking. Both BitFarms and HIVE achieved over 100% returns from September 10 to October 10. IREN (Nasdaq: IREN) shares nearly doubled in value during this period, climbing from $30.68 to just under $60.

Collectively, the average one-month return for these Bitcoin miners stood at a robust 73.26%.

Key Takeaways

Despite the immediate market reaction to geopolitical developments, Bitcoin mining companies demonstrated significant resilience and strong growth over the past month. Their ability to deliver substantial returns highlights a notable performance within the cryptocurrency sector.