U.S. crypto-linked stocks rose alongside Bitcoin on Monday, closing the day with gains as more publicly traded companies added the cryptocurrency to their balance sheets.
The country’s four largest crypto miners and several major crypto firms all ended June 10 in the green, with most extending gains in after-hours trading.
Stablecoin issuer and recent Nasdaq entrant Circle Internet Group (CRCL) saw its shares surge 7% during regular hours, followed by a 2.2% after-hours increase to $117.79. Core Scientific Inc. (CORZ) gained 4.27% with an additional 0.87% bump post-close, while CleanSpark Inc. (CLSK) and MARA Holdings Inc. (MARA) both rose over 3% and added another 1% after-hours.
Riot Platforms Inc. (RIOT) ended the session up 2.74%, followed by a 1.2% after-hours gain.
The rally tracked a 4% rise in Bitcoin, which reached $110,150—approaching its May 22 high of $112,000—as investor confidence improved amid easing global market concerns and ongoing U.S.-China trade discussions in the UK.
Meanwhile, Bitcoin-buying heavyweight MicroStrategy Inc. (MSTR) rose 4.71% during the session, with an additional after-hours gain of over 1%, pushing its share price to $396.61.
Robinhood drops after being left out of the S&P 500 index
Robinhood Markets Inc. (HOOD) bucked the broader market rally, slipping nearly 2% to $73.40 after being left out of the S&P 500.
Investors had speculated that the crypto and stock trading platform would be added to the index, which tracks the 500 largest publicly traded U.S. companies and often boosts share prices for new entrants. However, S&P Dow Jones Indices opted not to make any changes during its quarterly rebalancing on Friday.
In contrast, rival trading platform eToro Group Ltd. (ETOR), which debuted publicly less than a month ago, jumped more than 10.5% and added another 2.4% after-hours to reach $77.79. Meanwhile, crypto exchange Coinbase Global Inc. (COIN) posted a more modest gain of 2%, closing at $256.63.
Public companies keep accumulating Bitcoin
Bitcoin’s rally this year has triggered a surge in public companies adding the cryptocurrency to their holdings in a bid to boost share prices.
The latest to join the trend is BitMine Immersion Technologies, Inc. (BMNR), a Bitcoin mining equipment rental firm, which announced Monday that it purchased 100 BTC for the first time to hold in reserve. The move follows a Wednesday share offering aimed at raising $18 million.
While some companies announcing Bitcoin purchases have seen share prices surge, BitMine ended Monday down nearly 8.7%, before recovering slightly with a 5.2% after-hours gain to $7.25.
Meanwhile, energy management firm KULR Technology Group, Inc. (KULR) saw its shares rise 4.2% after revealing it had acquired an additional $13 million in Bitcoin. The company now holds a total of 920 BTC, purchased at an average price of $98,760 per coin.
