This article highlights three notable US crypto stocks: Core Scientific, MicroStrategy, and Coinbase. Core Scientific is underperforming, while MicroStrategy has gained momentum following a significant Bitcoin purchase. Coinbase prepares for an impending earnings report as it tries to recover from early year losses. Each stock displays distinct market behaviours influenced by cryptocurrency trends.
This week, three US crypto stocks are under observation: Core Scientific (CORZ), MicroStrategy (MSTR), and Coinbase (COIN). Their performances are mixed; CORZ has seen a decline, MSTR is climbing after a Bitcoin investment, and COIN is preparing for an upcoming earnings report that could impact its recovery from prior losses.
Core Scientific (CORZ) is currently down 0.84% in pre-market trading, continuing its pattern of underperformance. Despite general strength across crypto stocks, the company’s Bitcoin mining operations have suffered due to rising costs and decreasing profit margins. With a near 50% drop year-to-date, it has remained less appealing compared to peers like Marathon Digital (MARA) and Coinbase.
MicroStrategy (MSTR) closed up 3.82% yesterday, achieving a year-to-date return of 7.54%. The stock has benefited from Bitcoin’s recent price recovery, gaining 16% over the past five days. MicroStrategy recently acquired an additional $285 million in Bitcoin, adding 3,459 BTC to its total, making it the largest corporate holder of Bitcoin and positioning it as a leveraged investment in the cryptocurrency market.
Coinbase (COIN) is up 0.88% in pre-market trading, indicating potential short-term strength as it approaches an essential earnings report. As one of the largest US cryptocurrency exchanges, Coinbase offers a variety of services, including trading and custody. The upcoming Q1 2025 earnings update on May 8 could significantly affect its share price, as COIN has risen 12% in the last five days, aiming to recover from a 29% decline year-to-date.
