Today, the performance of crypto US stocks is varied, with Core Scientific (CORZ), MicroStrategy (MSTR), and Coinbase (COIN) drawing attention.
Core Scientific's stock, CORZ, is down by -0.84% in pre-market trading and has been among the sector's weakest performers this year. In contrast, MSTR is gaining momentum following its recent acquisition of $285 million worth of Bitcoin, leading to a 16% increase in its 5-day gains. Additionally, COIN is up by +0.88% in pre-market trading as it prepares to release its Q1 2025 earnings report on May 8, striving to recover from a substantial year-to-date decline.
Core Scientific (CORZ) is experiencing a decline of -0.84% in pre-market trading, highlighting ongoing underperformance. The company operates a significant Bitcoin mining operation in North America, providing infrastructure, hosting, and self-mining services. Despite the broader strength in the crypto-related equities sector, CORZ has struggled to attract investors, with its stock down nearly 50% year-to-date.
MicroStrategy (MSTR) saw a 3.82% increase in its stock price yesterday, bringing its year-to-date return to 7.54%. The company, known for its aggressive Bitcoin accumulation strategy under the leadership of Michael Saylor, has recently added 3,459 BTC to its balance sheet with a $285 million Bitcoin purchase. This move solidifies MSTR's position as the largest corporate holder of Bitcoin.
Coinbase (COIN) is showing a +0.88% increase in pre-market trading, indicating short-term strength. The company, operating one of the largest cryptocurrency exchanges in the US, is set to announce its Q1 2025 earnings on May 8, which could significantly impact its stock performance. Despite a nearly 29% decline year-to-date, COIN has seen a 12% increase in the last five days.