FameEX Hot Topics | Bitcoin Mining Shares Rebound Following Trump's Tariff Threat and Market Chaos

The rebound in Bitcoin mining stocks came after a sharp sell-off on Friday, triggered by President Trump’s announcement of plans to impose 100% tariffs on Chinese imports. The statement initially sparked fears of an escalating trade war and rattled the market. However, as trading resumed, mining stocks surged. Bitfarms (BITF) and Cipher Mining (CIFR) led the rebound with double-digit gains, while Hut 8 Mining (HUT), IREN (IREN), and MARA Holdings (MARA) climbed more than 4%. Core Scientific (CORZ) and Riot Blockchain (RIOT) also traded higher at the start of the session, signaling renewed investor confidence.

It later emerged that Trump’s comments were based on a misunderstanding of China’s new export measures. Reports clarified that the issue centered on China’s recent restrictions on rare earth minerals, vital for the defense and semiconductor sectors, rather than on broader trade policies. This revelation helped ease some of the fears that had fueled Friday’s market volatility.

Over the weekend, Trump walked back his initial remarks. On Truth Social, he reassured the public by posting, “Don’t worry about China, it will all be fine!” and added, “Highly respected President Xi just had a bad moment.” His comments were aimed at calming markets and downplaying the risk of a full-blown trade confrontation with China.

U.S. Treasury Secretary Scott Bessent further clarified the situation, stating that the 100% tariffs “don’t have to happen.” Market analysts, including The Kobeissi Letter, noted that Trump had misinterpreted China’s October 10th export control expansion. With this clarification, investors regained confidence, contributing to the rebound in Bitcoin mining stocks and stabilizing market sentiment after a turbulent week.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.