Circle Shares Soar to Three-Month High as Bitcoin Nears $70K
Crypto-linked stocks rallied on Monday as Bitcoin's price climbed towards $70,000. Circle shares surged to a three-month high, extending their post-earnings momentum after the company reported an earnings beat last week.
Core Scientific and Riot Platforms, however, missed fourth-quarter earnings expectations. Core Scientific posted a loss of $0.18 per share, higher than the $0.12 per share loss that Wall Street had expected. Riot Platforms' revenue came in at $153 million, compared to the consensus estimate of $158 million.
Other digital asset treasury firms, including Strategy, Bitmine Immersion Technologies, and ProCap Financial, also announced crypto purchases on Monday. These companies saw their stock prices rise as a result. The overall cryptocurrency market gained 1.4% in the last 24 hours, climbing to $2.41 trillion.