Bitcoin rally lifts crypto stocks as miners and treasury companies surge

The notable detail is the breadth: gains spread across both mining hardware names and corporate bitcoin holders, suggesting the move is being read as a sector-wide risk-on signal rather than a single-company story. That distinction matters because treasury companies and miners carry very different exposure — one to the bitcoin balance sheet, the other to operating economics and hash economics. Whether this correlation holds if bitcoin's move stalls, and whether the equity gains outpace the underlying asset, is the open question worth watching.