Bitcoin’s return above $80,000 after more than 100 days has triggered a sharp rebound in U.S.-listed cryptocurrency shares, with several companies tied to token treasuries, trading activity and stablecoin infrastructure rising by double digits in five days. Bitcoin gained nearly 30% over the week, while Ether also climbed more than 30%, restoring momentum to a group of stocks that had remained far below their 52-week highs earlier in the year.
The rally has been especially pronounced among companies whose balance sheets carry large Bitcoin or Ether positions. Their share prices offer traders indirect exposure to cryptocurrency markets, but the moves have also amplified the volatility of the underlying tokens. Several treasury-focused companies rose faster than Bitcoin itself, reflecting the market’s tendency to place a premium on leveraged or actively managed digital-asset exposure during strong rallies.
Strategy and BitMine lead the treasury-stock advance
Strategy was among the strongest performers. Its shares rose 12.68% intraday during the previous week to $104.25, before reaching a premarket price of $122.63 in the latest market snapshot. That represented a gain of 28.13% over five days and roughly 49.5% from its 52-week low near $82.
STRC, a related Strategy security, traded around $97.21, up 29.6% from a historical low near $75. The security had moved back toward the $100 level and carried an indicated dividend yield of about 12%, according to the figures provided.
BitMine also participated heavily in the rebound as Bitcoin and Ether advanced. The stock traded as high as $20.24 on Aug. 20, gaining 10.72% in that session, and later stood at $24.14. That placed the shares 31.48% higher over five days and about 88.6% above their 52-week low of $12.80.
BitMine’s reported Ether position gives the company unusual sensitivity to Ethereum’s price and staking economics. The company said it held 5.8476 million ETH, equivalent to about 4.8% of Ethereum’s supply, alongside crypto assets, cash, marketable securities and “Moonshot” investments valued at roughly $14.9 billion.
Its reported holdings included $308 million in cash and marketable securities, 210 BTC, a $180 million equity stake in Beast Industries and an $89 million investment in Eightco Holdings. BitMine said it had staked 5,067,309 ETH, or about 87% of its Ether position, which it valued at approximately $12.4 billion. The company estimated annualized staking income of about $330 million.
That structure gives BitMine exposure to two separate forces: changes in Ether’s market price and income generated by validating the Ethereum network. It also means that a reversal in ETH could affect the company’s reported asset value far more quickly than changes in a conventional operating business.
Trading platforms and stablecoin stocks recover
Coinbase shares rose as much as 9.05% on Aug. 20, reaching $159.47 during the sector-wide advance. The stock later traded at $179.48, up 21.27% over five days and roughly 29% from its 52-week low of $139.
The company’s recovery followed a period in which trading-related equities had lagged token prices. Higher cryptocurrency prices can lift transaction activity, asset balances and interest income connected to stablecoin reserves, though the scale of those benefits depends on trading volumes and market participation rather than token prices alone.
Circle also moved sharply higher, climbing 9.56% on Aug. 20 to $78.59 before later trading around $92. In the latest snapshot, the shares stood at $87.72, a five-day gain of 20.44% and roughly 75.5% above a 52-week low near $50.
The move was linked to developments surrounding the CLARITY bill, proposed U.S. legislation focused on market structure for digital assets. Stablecoin issuers have attracted particular attention as policymakers debate which agencies should supervise different parts of the cryptocurrency market and how tokenized dollar products should be regulated.
Robinhood reported record second-quarter net revenue of $1.308 billion, up 32% from a year earlier. Net income attributable to common shareholders rose 45% to $561 million, while diluted earnings per share reached $0.62, above the market expectation of $0.42 cited in the supplied figures.
Robinhood said 13 business lines had reached annualized revenue above $100 million. Its shares traded at $103.62, up 11.1% over five days and about 63.2% from a 52-week low near $63.50. The company’s results point to a more diversified revenue base than a business dependent solely on retail crypto trading.
Ether treasury companies remain volatile
Sharplink’s shares reached $8.27 in the latest snapshot, gaining 30.24% in five days and about 83.7% from a 52-week low near $4.50. The company reported holding about 889,000 ETH as of Aug. 3, with crypto assets valued at roughly $1.4 billion under GAAP accounting rules.
Its second-quarter revenue was $11.5 million, while its net loss widened to $394 million from $103 million a year earlier. Sharplink said the loss included $321 million in unrealized crypto-asset losses and a $76 million impairment related to staked ETH.
The figures show the accounting pressures facing Ether treasury companies. Even where staking produces token-denominated income, changes in the market value of holdings and accounting treatment of impaired assets can dominate reported quarterly earnings.
Bullish reported second-quarter digital-asset sales volume of $32.6 billion, down from $58.6 billion in the same period a year earlier. The company posted a net loss of $280 million, compared with net income of $108.3 million in the prior-year period, and reported a diluted loss per share of $1.78.
On its non-IFRS measures, Bullish reported adjusted revenue of $92.6 million, up 62% from $57 million. Subscription, services and other revenue reached a record $62.7 million, while adjusted trading revenue rose 24% to $29.9 million. Adjusted EBITDA increased to $29.5 million from $8.1 million, and adjusted net income reached $14.3 million after a $6 million loss a year earlier.
Bullish shares traded at $30.61, up 24.18% over five days and about 45.8% above a 52-week low of $21.
Hyperliquid Strategies posted the largest five-day gain among the companies cited, trading at $10.64 after rising about 52.87%. The shares were roughly 254.6% above a 52-week low of $3, following reported second-quarter 13F disclosures showing purchases by multiple funds and family offices.
The rapid recovery across the group has not erased earlier losses. Several of these stocks remain more than 50% below their 52-week highs, leaving their valuations dependent on whether Bitcoin and Ether can sustain the rebound and whether company earnings can support prices once the immediate token rally cools.
For deeper insight into BTC’s rally and timing entries, explore when is the best time to buy Bitcoin now.
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