Bitcoin has sustained its rally above $123,000, which it broke on Friday, finishing week 39 up 10% for its best weekly performance of the year, according to CoinDesk market data.
Crypto stocks with exposure to Artificial Intelligence (AI) and High-Performance Computing (HPC) are doing better than their peers that lack the same exposure.
Cipher Mining (CIFR) is up 5% to $15.40, set to break a new all-time highs. BitDigital (BTBT) has gained 3% to $3.61, and IREN (IREN) is up 5% to $53, also at record levels. CleanSpark (CLSK) is up more than 3% to $16.46, revisiting highs last seen in November 2024.
BTC treasury companies, which by their nature lack the same AI/HPC component, are underperforming in comparison.
Metaplanet (3350) is down 5% on Monday to 591 yen, while Strategy (MSTR) is up just 2% pre-market at $359.
So far this year, crypto-linked stocks have performed very differently: Iris Energy (IREN) has surged 382%, Cipher Mining (CIFR) 205%, Metaplanet 74%, MicroStrategy (MSTR) 17%, and Bit Digital (BTBT) 12%.
The wide gap in gains highlights how investors are favoring some Bitcoin-exposed firms over others, underscoring a growing divergence within the sector.