2025 showed no mercy, with bitcoin and crypto-linked equities ping-ponging between dizzying swings, extended snoozes, and moments that demanded a double take. What follows is a snapshot report of the year’s top and bottom digital asset stocks—and exactly how each one fared along the way.
2025’s Crypto Stock Scorecard
This year, crypto-related stocks zigzagged through sharp swings and wildly different outcomes during a tough stretch for cryptocurrencies. The crypto economy kicked off Jan. 1, 2025, at $3.26 trillion and now enters 2026 about $290 billion lighter, hovering near $2.97 trillion. Bitcoin finished the 12-month run down 5%, while ethereum fared even worse, closing out 2025 with an 11% decline.
Midyear—and again during the first week of October—the crypto market briefly pushed past the $4 trillion mark, with BTC climbing above $126,000 on Oct. 6. All of this action spilled straight into crypto stocks, lifting some while leaving others lagging through 2025. Here’s a rundown of exactly how these names performed during the year’s anything-but-boring 12-month ride.
Coinbase
Coinbase Global, Inc. (Nasdaq: COIN) saw a volatile year and it traded for $257.21 on Jan. 1. Fast forward to today and COIN stands at $239.73. This means the exchange’s shares have slid 6.7% against the U.S. dollar in 2025.
Strategy
Strategy Inc. (Nasdaq: MSTR) remains the largest corporate holder of bitcoin ( BTC), sitting on a trove of 671,268 BTC. On Jan. 1, MSTR changed hands at $300.01 per share, and today it’s down 47%, resting at a current price of $158.71 per share.
Circle
Circle Internet Group, Inc. (NYSE: CRCL), the issuer of the stablecoin USDC, didn’t hit the public markets until June, debuting at $69 per share on the New York Stock Exchange. Today, Circle’s CRCL sits at $82.64, putting the stock up 19.7% from its opening print.
Robinhood
Robinhood Markets, Inc. (Nasdaq: HOOD) turned in a standout showing in 2025, chalking up a 186% run-up over the year. HOOD opened January at $42.11 per share and now trades at $120.44 per unit. Since debuting in its July 2021 initial public offering (IPO), the stock is up 216%, according to data from Tradingview.
IREN
IREN Limited (Nasdaq: IREN) ended up as one of 2025’s clear winners among bitcoin mining stocks. The company, which also dabbles in AI infrastructure and cloud services, began January near $9.83 per share and now trades around $41.98, delivering a hefty 327.49% year-to-date gain.
Sol Strategies
The Solana-focused digital asset treasury (DAT) firm Sol Strategies (Nasdaq: STKE) shed 58% since September, sliding to $4.34 per share, according to data from Tradingview. The price now sits at a much slimmer $1.79 per STKE.
Applied Digital
Applied Digital Corporation (Nasdaq: APLD) pulled off an eye-catching comeback in 2025 that didn’t go unnoticed. The bitcoin mining firm opened the year around $7.64 per share and now sits at $25.72, putting it up 236.64% year to date.
Cipher Mining
Cipher Mining, Inc. (Nasdaq: CIFR) quietly stitched together a strong year as mining stocks regained their balance. CIFR opened in January at around $4.64 per share and now trades at $16.22, amounting to a 249.56% year-to-date climb.
Fold
Retail bitcoin rewards firm Fold Holdings, Inc. (Nasdaq: FLD) started trading on Feb. 19, 2025, and started at $9.39 per unit. Today, the company’s shares are standing at $2.71, which means FLD is down 71%.
Also read: 2025 EOY Report: News Story of the Year
Bitdeer
Bitdeer Technologies Group (Nasdaq: BTDR) ended the year on the wrong side of the leaderboard. Shares opened 2025 near $21.66 and now sit at $11.49, marking a 46.97% YTD drop.
MARA
MARA Holdings, Inc. (Nasdaq: MARA) had a rough go despite its scale and name recognition. The stock opened 2025 near $16.76 and now trades at $9.94, leaving it down 40.72% year to date.
Exodus
The crypto platform Exodus Movement, Inc. traded on the NYSE for $30.36 back in January and today it lost 50% of its value at $15.18 per EXOD. Presently, the firm’s market valuation stands at $446.29 million.
Core Scientific
Core Scientific, Inc. (Nasdaq: CORZ) posted incremental progress during a year that tested patience across the sector. The stock opened January near $14.05 and now sits at $15.57, leaving it up 10.81% YTD.
Terawulf
Terawulf, Inc. (Nasdaq: WULF) delivered a solid performance as interest rotated back into mining names. Shares started the year around $5.66 and now trade at $12.31, marking a 117.49% YTD advance.
Cleanspark
Cleanspark, Inc. (Nasdaq: CLSK) managed to stay in positive territory while others struggled. CLSK began January around $9.21 and now trades at $11.40, up 23.77% YTD.
Hut 8
Hut 8 Corp. (Nasdaq: HUT) turned steady execution into a strong 2025 showing. Shares opened the year near $20.50 and currently change hands at $52.80, good for a 157.68% YTD gain.
Bullish
Crypto exchange Bullish (NYSE: BLSH) did not start trading until Aug. 13, 2025. At the start of trading, BLSH was $89.01 and today it is $42.86 per unit, representing a 51.9% loss.
Bitmine
BitMine Immersion Technologies, Inc. (NYSE: BMNR), which pivoted from bitcoin mining into an ethereum treasury strategy, started the year trading around $8.22 per share. With the stock now at $29.35, that move translates into a 257% year-to-date gain as the company builds its ether holdings to 4.07 million ETH.
A Year of Extremes Leaves Crypto Stocks Sharply Divided
By year’s end, the scoreboard told a familiar but uneven story: proximity to crypto didn’t guarantee profits, and brand recognition alone offered no shelter from drawdowns. Miners with clean balance sheets, disciplined expansion plans, or timely pivots into AI or treasury strategies found favor, while others struggled under price pressure, dilution, or shifting narratives. The gap between winners and laggards widened, reminding investors that this corner of the market still rewards selectivity over broad exposure.
As 2026 approaches, digital asset stocks remain tethered to the fate of bitcoin, ethereum, and regulatory clarity—but not in lockstep. Execution, capital strategy, and timing proved just as decisive as token prices themselves in 2025. For investors, the past year offered a blunt lesson: in crypto equities, the ride is rarely smooth, and the exits are rarely evenly spaced.
FAQ ❓
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Which crypto stocks performed best in 2025?
Bitcoin miners and digital asset firms such as IREN, Cipher Mining, and Applied Digital posted some of the strongest year-to-date gains in U.S. markets. -
Which crypto-related stocks struggled the most in 2025?
Several U.S.-listed crypto stocks, including MARA, Bitdeer, and Sol Strategies, ended the year with steep losses. -
How did bitcoin and ethereum affect crypto stocks in 2025?
Bitcoin’s 5% decline and ethereum’s 11% drop weighed on sentiment, even as select equities broke away from the broader trend. -
What should investors watch for crypto stocks in 2026?
Regulatory clarity in the United States, balance sheet discipline, and exposure to bitcoin, ethereum, or AI-related infrastructure remain key factors.
