Nvidia earnings boost Bitcoin past $80,000

Nvidia reported fiscal second‑quarter revenue of $96.2 billion, beating estimates and prompting a 6.7% pre‑market rise in its shares. The earnings beat coincided with a 2.4% gain in Bitcoin, pushing the cryptocurrency near the $80,000 psychological level, and lifted several AI‑focused mining stocks.

Strong Nvidia results and outlook

Second‑quarter revenue reached $96.22 billion, up 106% year‑over‑year and 18% sequentially, surpassing the $92.2 billion consensus estimate. Non‑GAAP diluted earnings were $2.22 per share, above the $2.09 expectation. Data Center revenue hit $89 billion, representing more than 92% of total revenue. Nvidia also returned roughly $26 billion to shareholders through buybacks and dividends and forecast fiscal third‑quarter revenue of $108 billion, exceeding Wall Street’s $104 billion estimate.

Bitcoin reacts to tech rally

Bitcoin rose from an intraday low near $77,658 to about $80,380, a 2.4% increase, as technology futures and semiconductor stocks rallied following Nvidia’s report. The move reflects broader risk‑on sentiment rather than a direct causal link to Nvidia’s earnings.

AI‑focused mining stocks gain

Companies linking Bitcoin mining infrastructure with AI computing also advanced. IREN jumped roughly 5%, while TeraWulf and Cipher Mining each rose about 3% in early trading. These firms have been redirecting power capacity and data‑center resources toward high‑performance computing.

Additional context

• Nvidia’s third‑quarter gross margin guidance is 74% ± 50 bps, with expectations of 71‑72% in Q4 and 72‑73% in fiscal 2028.
• The company announced an early fiscal 2028 forecast, projecting revenue growth of about 70% despite supply constraints.
• Reports suggest Nvidia may acquire AI platform Hugging Face for $12.9 billion, though the deal has not been confirmed by the parties.