Crypto Stocks Shine Amid Energy Price Swings: CoreWeave, Bitmine Immersion, and Applied Digital Lead the Way

The recent U.S., Iran standoff over the Strait of Hormuz has pushed energy price swings back into the spotlight, drawing investors to crypto as a hedge against traditional oil and bond trades. As a result, listed businesses tied to digital assets and blockchain infrastructure are gaining attention. Three stocks from the Simply Wall St curated crypto and blockchain basket that investors may want on their radar now are CoreWeave (CRWV), Bitmine Immersion Technologies (BMNR), and Applied Digital (APLD).

CoreWeave's GPU-heavy cloud platform powers crypto mining, blockchain validation, and other high-intensity AI and computing workloads. The company reports $7.59b in data processing revenue, with $7.01b generated in the United States and $577 million from other regions. Its market cap is $48.32b.

However, CoreWeave faces a potential 'stranded asset' risk if major cloud providers internalize their compute capacity, leaving it with a high-interest debt burden that doesn't disappear when customers leave. The company's long-term appeal may be masked by this risk, which could be mitigated by unseen pressure quietly reshaping customer willingness to pay for capacity.

Bitmine Immersion Technologies runs a crypto-focused business built around ETH and BTC treasury operations, mining services, and equipment sales. It records $61 million in revenue from the cryptocurrency mining industry, all generated within the United States. The company's market cap is $16.62b.

Applied Digital designs, builds, and operates power-hungry data centers that host cryptocurrency miners alongside broader high-performance and AI workloads. It generates about $385 million from its HPC Hosting Segment and roughly $154 million from its Data Center Hosting Segment. The company's market cap is $7.65b.