US crypto-linked stocks closed higher on Monday, buoyed by Bitcoin’s 4% climb to $110,150. This rally brought Bitcoin closer to its May 22 peak of $112,000 as market concerns eased following US-China trade talks held in the UK. Several publicly traded companies that have incorporated Bitcoin into their treasuries extended gains into after-hours trading.
Notably, Nasdaq newcomer and stablecoin issuer Circle Internet Group (CRCL) led the day’s winners with a 7% rise, followed by an additional 2.2% increase after-hours, closing at $117.79. Crypto miner Core Scientific Inc. (CORZ) posted a 4.27% gain during regular trading and added 0.87% after hours. Competitors CleanSpark Inc. (CLSK) and MARA Holdings Inc. (MARA) each rose over 3% during the day and climbed a further 1% in after-hours trading. Riot Platforms Inc. (RIOT) gained 2.74%, with an after-hours bump of 1.2%.
Meanwhile, Bitcoin-buying titan MicroStrategy Inc. (MSTR) rose 4.71% in regular trading and added more than 1% after hours, closing at $396.61.
Mixed Results Among Crypto Trading Platforms
Crypto and stock trading platform Robinhood Markets Inc. (HOOD) was an exception to the day’s gains, slipping nearly 2% to $73.40. The drop followed S&P Dow Jones Indices’ decision not to change the S&P 500’s membership during its latest quarterly rebalancing. The market had anticipated Robinhood would join the index, a move that usually benefits share prices.
In contrast, rival platform eToro Group Ltd. (ETOR), which recently went public, surged more than 10.5% and gained an additional 2.4% after hours to $77.79. Crypto exchange Coinbase Global Inc. (COIN) posted a modest 2% gain, finishing at $256.63.
Public Firms Increasing Bitcoin Holdings
The ongoing Bitcoin rally has encouraged more publicly traded companies to purchase the cryptocurrency to enhance their portfolios and potentially boost share prices. One of the latest entrants is Bitcoin mining equipment rental company BitMine Immersion Technologies, Inc. (BMNR). On Monday, BitMine announced its first acquisition of 100 BTC, financed in part by an $18 million share offering completed last Wednesday.
Despite the announcement, BitMine’s shares closed Monday down nearly 8.7%, before recovering 5.2% in after-hours trading to $7.25.
Energy-management firm KULR Technology Group, Inc. (KULR) also reported a Bitcoin purchase on Monday, adding $13 million worth to its holdings. This increased its total Bitcoin stash to 920 coins, acquired at an average price of $98,760 each. Following the news, KULR’s shares rose 4.2%.
What The Author Thinks
The increasing number of public companies adding Bitcoin to their balance sheets signals growing institutional acceptance of cryptocurrency as a strategic asset. While share price reactions to these announcements vary, the overall trend points to a shift in how firms view Bitcoin—not merely as a speculative asset but as a tool to diversify holdings and hedge against inflation. However, investors should remain cautious, as volatility in crypto markets can still lead to uneven stock performance despite the long-term optimism.
Featured image credit: BeatingBetting via Flickr
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