On February 25, 2026, U.S.-listed bitcoin mining companies have demonstrated notable resilience, with some stocks increasing in value despite a decline in the overall price of bitcoin. This trend suggests a potential decoupling between mining stocks and the cryptocurrency market.
For instance, Terawulf (WULF) has seen a significant increase of 31% this month, even as bitcoin’s spot price has dropped nearly 17%. Other companies such as Cipher Digital (CIFR) and HUT 8 (HUT) have also reported gains of 8% and 6%, respectively. Core Scientific (CORZ) has remained relatively stable during this period.
Markus Thielen, founder of 10x Research, noted that these firms are among the most heavily shorted stocks by hedge funds, suggesting that they could benefit from favorable economic conditions. He highlighted that these companies have secured long-term energy contracts at competitive rates, providing them with a strategic advantage beyond just bitcoin mining.
In the broader cryptocurrency market, bitcoin has recently bounced back to over $65,000, likely influenced by gains in futures associated with the Nasdaq 100 index. This increase occurred despite President Donald Trump’s omission of cryptocurrency in his recent State of the Union address.
Data from SoSoValue indicates that spot bitcoin exchange-traded funds (ETFs) experienced net inflows of $257.7 million on Tuesday, marking the highest inflow since early February. Analysts emphasize that sustained inflows are necessary to initiate a significant market recovery.
Vikram Subburaj, CEO of Giottus.com, remarked on the current price dynamics of bitcoin, stating that a sustained drop below $60,000 could trigger further declines, with $57,500 identified as the next critical level. Conversely, reclaiming the $72,000 to $75,000 range would signal a return of risk appetite among investors.
In traditional markets, the Dollar Index reversed early losses, impacting dollar-denominated assets such as gold and bitcoin. Oil prices have also decreased in response to a surge in U.S. stockpiles, although concerns about a potential military conflict between the U.S. and Iran have kept prices from falling significantly.
Upcoming Events
- Crypto
- Feb. 25, 1 p.m.: SwissBorg will host its largest keynote event.
- Feb. 25: The Sandbox Season 7 will commence.
- Macro
- Feb. 25, 4:30 p.m.: U.S. Federal Reserve balance sheet data for the week ending Feb. 25 will be released (previously $6.61 trillion).
- Earnings (Estimates based on FactSet data)
- Feb. 25: Circle (CRCL), pre-market, $0.16
- Feb. 25: Core Scientific (CORZ), post-market, -$0.18
- Feb. 25: MARA Holdings (MARA), post-market, -$0.11
- Feb. 25: Hut 8 (HUT), pre-market, -$0.13
- Feb. 25: NVIDIA (NVDA), post-market, $1.50
In summary, the recent performance of bitcoin mining stocks amid fluctuating cryptocurrency prices highlights a potential shift in market dynamics, with companies leveraging strategic advantages to attract investor interest.
U.S.-listed bitcoin mining stocks have shown resilience, with notable gains despite a decline in bitcoin's price. Analysts suggest strategic advantages may drive this trend, indicating a potential decoupling from broader market fluctuations.