AI-focused bitcoin mining stocks extended gains on Monday, while Tesla surged following Elon Musk’s latest share purchase.

The largest mover to the downside was bitcoin treasury company KindlyMD (NAKA), which plunged 55% after PIPE shares from its recently completed SPAC were registered late Friday. The registration allows insiders to begin selling their shares, prompting the sharp decline.

Bitfarms (BITF) rose 15% pre-market to $2.55, extending its weekly rally to 75%. Other AI-focused mining stocks also performed strongly: IREN (IREN) gained 3% pre-market, up more than 230% year-to-date, and Hive Blockchain (HIVE) added 5%, building on a 40% rise over the past month.

In a shareholder letter Monday, NAKA CEO David Bailey acknowledged the stock’s volatility, which remains 96% below its all-time high. “We know resilience and discipline separate those who endure from those who fade,” Bailey wrote. “For those shareholders who have come looking for a trade, I encourage you to exit.”

Tesla (TSLA) traded at $420, up 6% from Friday’s close after a 7% surge last week, following an SEC filing showing Elon Musk purchased nearly 2.6 million shares.

Meanwhile, CapitalB (ALCPB) acquired 48 BTC, bringing its total holdings to 2,249 BTC, marking a 15% gain in European markets.