Crypto markets saw a split session as several crypto-related public companies jumped while some bitcoin treasury vehicles slid, even as bitcoin traded above $114,000, its highest since mid‑August.
Galaxy Digital (GLXY), Circle Internet (CRCL) and Bitfarms (BITF) led the gains. Galaxy climbed about 12% after acting as a lead investor in Forward Industries’ $1.65 billion fundraising to build a Solana treasury vehicle, and as investor interest warmed for data-center plays tied to large AI hosting contracts. Bitfarms surged roughly 18% — extending a strong week — after appointing former AWS executive Wayne Duso to its board and signaling a push into high-performance computing beyond traditional mining. Circle rallied about 16%, appearing to break a multi-month downtrend in what looked like a technical rebound.
Other crypto equities including Coinbase (COIN), Robinhood (HOOD), Marathon Digital (MARA) and Riot Platforms (RIOT) also advanced, outpacing modest gains in major U.S. indexes for the day.
By contrast, bitcoin treasury vehicles Metaplanet and Nakamoto fell roughly 10% and 14% respectively, while MicroStrategy (MSTR) was largely unchanged. The divergence highlights that company-specific catalysts — fundraising roles, executive hires and exposure to cloud/AI hosting demand — can move individual stocks independently of bitcoin’s price action.
Why it matters: These moves show crypto-native stocks are being priced both as proxies for digital-assets and as infrastructure or enterprise plays tied to cloud, AI and high-performance computing demand. For investors this means following company-level news and capital allocation decisions is as important as tracking cryptocurrency prices.
Risk note: Stocks tied to crypto and digital-assets are volatile and can diverge sharply from on-chain price moves. This article is for information only and is not investment advice — consider your risk tolerance and perform your own due diligence.
Source: CoinDesk. Read the original coverage for full details.