Canaan, American Bitcoin, Cango shares surge up to 67% as Bitcoin rallies 23%

Shares of Canaan, American Bitcoin and Cango jumped as much as 67% alongside a roughly 23% rally in Bitcoin. The price moves highlight a strong correlation and leverage between BTC’s spot performance and equities of miners and crypto-exposed firms, producing amplified upside for those companies. This suggests renewed investor risk-on appetite and potential capital inflows into mining and related services that could support sector investment. At the same time, the magnitude of the equity moves underscores higher volatility and heightened sensitivity of these stocks to future Bitcoin reversals.