Crypto US stocks are showing mixed performance today, with Core Scientific (CORZ), MicroStrategy (MSTR), and Coinbase (COIN) in focus.
CORZ is down -0.84% in the pre-market and remains one of the worst performers in the sector this year. Meanwhile, MSTR is gaining momentum after a fresh $285 million Bitcoin purchase, pushing its 5-day gains to 16%. COIN is up +0.88% pre-market as it heads into its Q1 2025 earnings report on May 8, trying to recover from a steep YTD decline.
Core Scientific (CORZ) is down -0.84% in pre-market trading, continuing its recent underperformance. Despite broader strength across crypto-related equities, the stock has struggled to attract buyers.
The company operates one of the largest Bitcoin mining businesses in North America. It provides infrastructure, hosting, and self-mining services through its network of data centers.
CORZ is down nearly 50% year-to-date, making it one of the worst performers among crypto stocks. In contrast, peers like Marathon Digital (MARA) and Coinbase (COIN) have held up much better.
While others benefit from diversification or stronger narratives, Core Scientific remains tied to mining economics—an area hit by rising costs and thinning margins, but that it could have a rebound as BTC rebuilds momentum.
MicroStrategy (MSTR) closed yesterday up 3.82%, pushing its year-to-date return to 7.54%. The stock has shown strong momentum alongside Bitcoin’s recent price recovery, with MSTR price up 16% in the last 5 days.
The company, led by Michael Saylor, is best known for its aggressive Bitcoin accumulation strategy. While it originally focused on enterprise software, it has since become heavily tied to BTC’s performance.
Strategy recently purchased an additional $285 million worth of Bitcoin, adding 3,459 BTC to its balance sheet. This brings its total holdings to 531,644 BTC.
The move reinforces the firm’s position as the largest corporate holder of Bitcoin, effectively turning it into a leveraged BTC play for investors.
Coinbase (COIN) is trading up +0.88% in the pre-market, showing signs of continued short-term strength. The move comes ahead of a key earnings update.
The company operates one of the largest cryptocurrency exchanges in the US, offering trading, custody, and staking services. Coinbase is set to report its Q1 2025 earnings on May 8, which could be a major catalyst for the stock.
COIN is up 12% over the last five days, attempting to rebound after falling nearly 29% year-to-date.
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