Crypto Stocks Surge as Bitcoin Hits Highest Level Since August

Crypto-related stocks posted strong double-digit gains on Thursday as bitcoin rose to its highest level since mid-August. Galaxy Digital gained 12%, Circle Internet rallied 16%, and Bitfarms surged 18%.

Galaxy Digital, the digital asset investment and data center conglomerate led by Mike Novogratz, served as a lead investor in Forward Industries’ $1.65 billion fundraising that closed Thursday to build a Solana treasury vehicle. The company may also be benefiting from increased investor appetite for data center plays, as major technology firms secure billion-dollar artificial intelligence hosting contracts such as Microsoft’s recent deal with Nebius.

Bitcoin miner Bitfarms extended its weekly gains to more than 60% with Thursday’s 18% advance. The company has been expanding into high-performance computing and appointed Wayne Duso, a former Amazon Web Services executive, to its board last month.

Circle’s 16% rally appeared to be a technical rebound without any clear news catalyst, breaking a downtrend that began in June and saw the USDC stablecoin issuer’s stock decline roughly 60% from its post-IPO peak. Other crypto-related stocks including Coinbase, Robinhood, MARA Digital, and Riot Platforms also posted gains.

These companies outperformed broader equity markets, with the S&P 500 index up 0.82% and the Nasdaq 100 gaining 0.69%.

Автор Benjamin Redfern

I was born in 1979 in Dunedin, New Zealand, where cold mornings, steep streets, and strong opinions about rugby were part of ordinary life. I use Benjamin Redfern as my public name. My private identity remains known only to close family and long-standing friends.