These bitcoin-linked stocks are doing better than BTC

Crypto Daybook Americas Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email These bitcoin-linked stocks are doing better than BTC Your day-ahead look for Feb. 25, 2026 By Omkar Godbole | Edited by Sheldon Reback Feb 25, 2026, 12:25 p.m. Make us preferred on Google Bitcoin mining equipment (Shutterstock modified by CoinDesk) What to know : You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will kickstart your morning with comprehensive insights. If you're not already subscribed to the email, click here . You won't want to start your day without it. By Omkar Godbole (All times ET unless indicated otherwise) Traders chasing alpha might want to take a look at U.S.-listed bitcoin BTC $ 65,804.51 mining stocks. Some of these companies are surging, boldly decoupling from the cryptocurrency's choppy price action. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Shares in Terawulf (WULF) have gained 31% this month, even as bitcoin's spot price has dropped nearly 17%. Cipher Digital (CIFR) and HUT 8 (HUT) have gained 8% and 6%, respectively, while Core Scientific (CORZ) is largely steady. According to Markus Thielen, founder of 10x Research, these are among the most heavily shorted stocks by hedge funds and could gain due to positive economics. "With long-term energy contracts secured at attractive rates, these firms possess a strategic advantage that extends well beyond pure Bitcoin mining," Thielen said in a note to clients. He added that capital is increasingly flowing toward structural winners, while legacy operators risk being left behind. Bitcoin has bounced to over $65,000, likely tracking gains in futures tied to the Nasdaq 100 index. The advance occurred even though President Donald Trump didn't mention crypto in his State of the Union address. Spot bitcoin ETFs recorded $257.7 million in net inflows on Tuesday, the most since early February, according to data from SoSoValue. Analysts said inflows need to hold up over the coming days to spark a real market rebound from this slump. In terms of price, bitcoin is trading close to well-watched pivots, Vikram Subburaj, CEO of Mumbai-based Giottus.com, said. "A sustained break below $60,000 is widely framed as a downside trigger, with ~$57,500 cited as the next notable level. Conversely, reclaiming $72,000-$75,000 would be a cleaner signal that risk appetite is returning," Subburaj said in an email. In traditional markets, the Dollar Index reversed early losses, pressuring dollar‑denominated assets such as gold and bitcoin. Oil prices slipped as U.S. stockpiles surged, though downside remained muted amid the risk of a potential military conflict between the U.S. and Iran. Stay alert. Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today What to Watch For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Crypto Feb. 25, 1 p.m.: SwissBorg to host its “biggest keynote ever.” Feb. 25: The Sandbox Season 7 starts . Macro Feb. 25, 4:30 p.m.: U.S. Fed balance sheet for week ending Feb. 25 (Prev. $6.61T) Earnings (Estimates based on FactSet data) Feb. 25: Circle (CRCL), pre-market, $0.16 Feb. 25: Core Scientific (CORZ), post-market, -$0.18 Feb. 25: MARA Holdings (MARA), post-market, -$0.11 Feb. 25: Hut 8 (HUT), pre-market, -$0.13 Feb. 25: NVIDIA (NVDA), post-market, $1.50 Token Events For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Governance votes & calls Feb. 25: EigenCloud to host a livestream with Puffer Finance on " Preconfirmations & the Future of Rollups " The Sandbox DAO is voting to pause operations and transfer control to the project team to realign with "The Sandbox 3.0". The proposal currently has the support of 80% of voters. Voting ends Feb. 25. Decentraland DAO is voting to create a customizable "Windfall Lotto Scene" template for land owners. Voting ends Feb. 25. Unlocks Feb. 25: Humanity (H) to unlock 4.37% of its circulating supply worth $17.71 million. Token Launches Nothing scheduled. Conferences For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Day 3 of 4: Strategy World 2026 (Las Vegas) Day 2 of 4: GFTN Forum Japan (Tokyo) Market Movements BTC is up 2.37% from 4 p.m. ET Tuesday at $65,564.62 (24hrs: +3.55%) ETH is up 3.31% at $1,915.35 (24hrs: +4.89%) CoinDesk 20 is up 2.97% at 1,901.09 (24hrs: +4.17%) Ether CESR Composite Staking Rate is up 2 bps at 2.83% BTC funding rate is at -0.0007% (-0.7643% annualized) on Binance DXY is unchanged at 97.82 Gold futures are up 0.58% at $5,206.50 Silver futures are up 3.82% at $91.50 Nikkei 225 closed up 2.20% at 58,583.12 Hang Seng closed up 0.66% at 26,765.72 FTSE is up 0.79% at 10,764.79 Euro Stoxx 50 is up 0.5% at 6,147.32 DJIA closed on Tuesday up 0.76% at 49,174.50 S&P 500 closed up 0.77% at 6,890.07 Nasdaq Composite closed up 1.04% at 22,863.68 S&P/TSX Composite closed up 0.57% at 33,970.38 S&P 40 Latin America closed up 1.53% at 3,800.72 U.S. 10-Year Treasury rate is up 2.1 bps at 4.054% E-mini S&P 500 futures are up 0.11% at 6,911.25 E-mini Nasdaq-100 futures are up 0.15% at 25,066.25 E-mini Dow Jones Industrial Average Index futures are unchanged at 49,277.00 Bitcoin Stats BTC Dominance: 58.52% (+0.13%) Ether-bitcoin ratio: 0.02917 (0.9%) Hashrate (seven-day moving average): 1,034 EH/s Hashprice (spot): $28.69 Total fees: 2.7 BTC / $171,903 CME Futures Open Interest: 114,890 BTC BTC priced in gold: 12.6 oz. BTC vs gold market cap: 4.38% Technical Analysis SOL's price chart. (TradingView) The chart shows daily price swings in solana (SOL) in candlestick format. The drop from September highs could be described as a stair-step decline, where prices fall, then move sideways in consolidation, and then resume selling. Lately, the price has been consolidating between roughly $75 and $91. A move below the lower end of the range would imply resumption of the broader downtrend, potentially yielding a deeper slide. Crypto Equities Coinbase Global (COIN): closed on Tuesday at $162.03 (+1.12%), +2.14% at $165.49 in pre-market Circle Internet (CRCL): closed at $61.37 (+0.33%), +16% at $71.00 Galaxy Digital (GLXY): closed at $21.54 (+5.90%) Bullish (BLSH): closed at $30.76 (+0.42%), -1.63% at $30.26 MARA Holdings (MARA): closed at $8.05 (+2.16%), +1.61% at $8.18 Riot Platforms (RIOT): closed at $16.50 (+5.43%), +1.94% at $16.82 Core Scientific (CORZ): closed at $17.87 (+5.80%), +0.78% at $18.01 CleanSpark (CLSK): closed at $10.35 (+5.40%), +1.93% at $10.55 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $42.71 (+7.42%) Exodus Movement (EXOD): closed at $9.76 (+2.20%) Crypto Treasury Companies Strategy (MSTR): closed at $124.61 (+0.73%), +2.51% at $127.74 Strive (ASST): closed at $7.16 (-2.65%), +0.35% at $7.19 SharpLink Gaming (SBET): closed at $6.55 (+0.92%), +2.90% at $6.74 Upexi (UPXI): closed at $0.61 (+7.61%) Lite Strategy (LITS): closed at $1.11 (+3.74%) ETF Flows Spot BTC ETFs Daily net flows: $257.7 million Cumulative net flows: $54.05 billion Total BTC holdings ~1.26 million Spot ETH ETFs Daily net flows: $9.2 million Cumulative net flows: $11.51 billion Total ETH holdings ~5.64 million Source: Farside Investors While You Were Sleeping European and U.K. stocks hit records powered by banks and miners (Bloomberg): The gains across European stocks strengthened, with the FTSE 100 and the Stoxx 600 both at record highs. Banks and mining stocks are providing the biggest boosts. Yen close to 2-week lows on rate concerns, market sentiment in focus (Reuters): The yen hovered near two‑week lows against the dollar after sliding on Tuesday on worries about a more dovish Bank of Japan and rising tensions with China. Global trade is holding up, says HSBC chief (The Wall Street Journal): The world's biggest trade-finance bank is not worried by President Trump's latest tariff broadside, a 10% global levy that took effect this week, saying “trade has been resilient" in the last 12 months. Crypto Daybook Americas More For You Bitcoin teeters near $63,000 as pippin's rally shows froth remains By Omkar Godbole | Edited by Sheldon Reback Feb 24, 2026 Your day-ahead look for Feb. 24, 2026 What to know : You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will kickstart your morning with comprehensive insights. If you're not already subscribed to the email, click here . You won't want to start your day without it. Read full story Latest Crypto News Circle Q4 earnings beat estimates, shares jump 15% in pre-market 9 minutes ago U.S. Senator opens probe on Binance over alleged $1.7 billion flow to Iranian entities 48 minutes ago Crypto rebounds from oversold levels, altcoin season indicator revisits January high 55 minutes ago One of longest mining capitulations nears end, signaling potential BTC price bottom 1 hour ago Strategy becomes most heavily shorted U.S. stock – but don't assume pure bearishness 2 hours ago Leading stablecoin Tether shrinks again as market cap looks set for second straight monthly drop 4 hours ago Top Stories Vitalik Buterin sold 17,000 ETH this month as ether fell 37% 5 hours ago Crypto firm with U.S. bank charter holds bitcoin holder Strategy's preferred stock 5 hours ago Mark Zuckerberg's Meta is planning stablecoin comeback in the second half of this year 21 hours ago Crypto isn't losing to AI, its just 'capitalism doing its job,' says Dragonfly 15 hours ago In this article BTC BTC $ 65,804.51 ◢ 4.47 %