Bitcoin Rally Past $79K Lifts Miners and Crypto Treasury Stocks

Bitcoin's surge above $79,000 sent crypto-related equities sharply higher on Friday, with mining firms and corporate treasury companies leading the charge as BTC extended its weekly gain beyond 23%. Canaan topped the sector with a gain of more than 25%, while MARA Holdings added to a nearly 16% jump from Thursday's session. Strive, which holds over 20,000 BTC on its balance sheet, climbed more than 16%, and Japan-listed Metaplanet — fresh off its acquisition of Nasdaq-traded Super League Enterprise to expand its Bitcoin treasury strategy — posted comparable gains. Coinbase and Robinhood also notched double-digit percentage increases, underscoring how the rally rippled through every public company with direct digital asset exposure.

The stock surge tracked a broader risk-on move across crypto markets, fueled in part by the US Treasury's announcement that it would double certain long-dated bond buybacks to support liquidity. Ether (ETH) rode the same wave, gaining nearly 30% over the week to climb above $2,400, according to CoinMarketCap data. Bitcoin ETFs also recorded $517 million in inflows on Thursday — the largest single-day haul since early May — reflecting renewed institutional appetite alongside the spot price recovery.

Regulatory tailwinds added momentum. US President Donald Trump renewed calls for Congress to advance the CLARITY Act, legislation stalled since the August recess that would clarify jurisdictional oversight between the CFTC and SEC for digital assets. Trump also revived the prospect of the US government acquiring Bitcoin at a "sizable" scale following meetings with crypto industry executives, a signal that helped sustain bullish sentiment across mining and treasury plays alike.