Major cryptocurrency-related stocks rebounded sharply on Friday despite underlying losses in their digital asset treasuries. Strategy stock surged 18% to $126.59 even though its 713,502 BTC holding is now underwater, while BitMine shares jumped 13.9% to $19.83 on plans to earn over $1 million daily from staking Ethereum. Coinbase gained 9.9% to $160.60 as market volatility drove higher trading volumes.
Bitcoin-related equities staged a significant recovery on Friday as the price of BTC stabilized. Strategy, trading under the MSTR ticker, saw its stock price rise to $131 despite reporting a $12.4 billion Q4 loss. The company’s 713,502 Bitcoin treasury, acquired at an average price of $76,047, is now 9.5% underwater with Bitcoin trading around $69,500.
Analysts have tempered their price forecasts for the firm but maintain buy ratings. Canaccord Genuity analyst Joseph Vafi cut his target from $474 to $185, while BTIG’s Andrew Harte lowered his from $630 to $250. Strategy co-founder Michael Saylor stated, “Strategy has built a digital fortress anchored by 713,502 Bitcoin, and our shift to digital credit, which aligns with our indefinite Bitcoin horizon.”
BitMine Immersion Technologies saw its shares jump 15% to about $20, commanding an Ethereum treasury of 4.28 million ETH worth approximately $8.7 billion. The company is sitting on a $7.5 billion unrealized loss from its holdings but has staked $6.7 billion worth of ETH. CEO Tom Lee said the company will earn more than $1 million per day in staking rewards when fully deployed through partners.
Coinbase shares rose 10% to $161, benefiting from market volatility that increases trading activity. The exchange, trading under the COIN ticker, tends to stabilize quickly during turbulent markets according to its financial leadership. CFO Alesia Haas previously noted, “The increase in volatility had a meaningful impact on our transaction revenue,” highlighting strong growth among advanced traders.
Other crypto stocks also surged, with miners MARA Holdings and CleanSpark both up over 19%. Institutional firm Galaxy Digital gained more than 17% to nearly $20 after earlier declines, while Bitcoin miners Terawulf and Riot Platforms posted similar gains. Bitcoin price data from CoinGecko shows the asset fell as low as $60,225 on Thursday before recovering.
