BITF News & Events

Strategy has emerged as the largest short target among U.S. large-capsas Circle Internet Group delivered a blowout earnings report that sent shares soaring 17% in premarket trading. The contrasting fortunes underscore the sector's bifurcation between profitable stablecoin infrastructure and leveraged Bitcoin treasury models under pressure. Meanwhile, multiple companies reporting major AI-related developments Tuesday and Wednesday. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.CIRCLE CRUSHES Q4 ESTIMATES AS USDC CIRCULATION HITS $75.3B:Circle Internet GroupQ4 results Wednesday morning that exceeded Wall Street expectations across every metric, delivering $770M in total revenue and reserve income, up 77% year-over-year and topping the analyst consensus of $745M. Adjusted earnings came in at 43c per share versus the consensus estimate of 35c, with adjusted EBITDA surging 412% to $167M. The stablecoin issuer's USDCcirculation grew 72% to $75.3B at year-end, with onchain transaction volume jumping 247% to $11.9T in Q4 alone.that USDC grew even as bitcoinand other digital assets crashed in late 2025, underscoring stablecoins' resilience relative to the broader crypto market. For FY25, Circle posted $2.7B in revenue, up 64%, though it recorded a $70M net loss driven by $424M in IPO-related stock-based compensation. The company projected a 40% compound annual growth rate in USDC circulation and reserve liability deposit cost margins of 38%–40% for FY26, providing a bullish outlook for the stablecoin infrastructure layer even as crypto-native assets remain volatile.STRATEGY BECOMES MOST SHORTED STOCK WITH $7B UNREALIZED BITCOIN LOSSES:Strategyholds approximately 717,722 BTC worth $47B, purchased at an average cost of $76,020 per token, leaving the company sitting on approximately $7B in unrealized losses as of current market levels., short bets now equal 14% of Strategy's $34B market cap, making it the most heavily shorted U.S. stock among companies over $25B in market capitalization, with Coinbaseranking fourth at 11%. Analysts attribute much of the short interest to basis trades where traders short MSTR shares while buying bitcoin spot ETFs like BlackRock'sIBIT to profit from narrowing premiums, rather than outright bearish conviction on the company. Bitmine Immersion'sTom Leea contrarian bullish signal, arguing that when a short trade becomes consensus, bad news gets priced in and upside squeezes become more likely. Strategy shares have plunged 63% over the past six months and roughly 73% from the $475 peak in July 2025, though the company recently purchased an additional 2,500 BTC for $168M funded by selling 297,940 Class A shares under its at-the-market offering program.HUT 8 REPORTS $302M LOSS DRIVEN BY UNREALIZED DIGITAL ASSET WRITEDOWNS:Hut 8Q4 revenue of $88.5M, missing the Wall Street consensus of $97.5M but delivering adjusted earnings per share of 36c that beat the consensus estimate of (12c). The company posted a net loss of $301.8M, or ($2.63) per share, driven by $401.9M in primarily unrealized losses on digital assets as bitcoin's price decline hammered balance sheets across the mining sector. For FY25, Hut 8 generated $235.1M in revenue, up 45% year-over-year, though the net loss of $248M contrasted sharply with 2024's net income of $331.4M. Compute revenue of $81.9M in Q4 is rapidly becoming the dominant segment as Hut 8 transitions from bitcoin mining to AI infrastructure, anchored by a $7B, 15-year AI data center lease agreement with Fluidstack and Anthropic secured in December 2025 and financially backstopped by Alphabet's Google.BITCOIN MINERS ACCELERATE AI PIVOT AS 70% PURSUE HPC INITIATIVES:Tuesday that bitcoin's tumble is widening a stock market schism among mining companies, with investors picking winners and losers based on their AI pivot progress rather than mining hash rate alone. Cipher Miningjumped 12.48% Tuesday after reporting plans to liquidate its entire 1,166 BTC treasury to fund its AI transition, while also selling its mining joint venture interests to Canaan. TeraWulfrose 12% on developments around its own separate multi-billion-dollar Fluidstack AI data center collaboration, with Q4 earnings due February 26. Bitfarmsgained 7.84% as the company winds down BTC mining and pivots fully to AI and high-performance computing,with a shareholder vote scheduled for March 20. Core Scientificagreed to appoint up to three independent directors with Two Seas Capital after its failed CoreWeavesale, while MARA Holdingscompleted acquisition of a controlling interest in Exa, a data center subsidiary of French energy company EDF.COINBASE EXPANDS EVERYTHING EXCHANGE WITH FULL U.S. STOCK TRADING LAUNCH:Coinbase rolled out stock and ETF trading to all U.S. users Tuesday, expanding from its limited December pilot with more than 8,000 equities available for 24/5 trading alongside crypto assets. The company simultaneously announced a partnership with Yahoo Finance that integrates a "Trade [Asset] on Coinbase" button directly into Yahoo Finance's stock and crypto pages, providing real-time Coinbase data and offering a one-month free Coinbase One Basic trial for Yahoo Finance users. Fractional shares are available from as little as $1, with trades fundable via USD or USDC stablecoin, and Coinbase plans to launch tokenized stocks and global access to U.S. equities for international traders later this spring. COIN shares traded around $164.99 Wednesday, down nearly 63% from the 52-week high of $444.65, yet 62% of analysts maintain Buy ratings as the company continues diversifying beyond pure crypto exchange revenue under the "Everything Exchange" strategy.CRYPTO.COM RECEIVES CONDITIONAL OCC APPROVAL FOR NATIONAL TRUST BANK CHARTER:thatCrypto.comreceived conditional approval from the Office of the Comptroller of the Currency to charter Foris Dax National Trust Bank, d/b/aCrypto.comNational Trust Bank, permitting custody, staking of digital assets, and trade settlement as a federally regulated institution. The charter does not allow cash deposits or loan issuance and was submitted in October 2025 with OCC approval granted within about four months.Crypto.com, who also holds a large treasury of cronos tokens,was one of 18 firms that applied for OCC charters in 2025, joining Circle, Ripple, Paxos, BitGo, and Fidelity Digital Assets, which received OCC trust bank charter approvals in December 2025, with Stripe's Bridge subsidiary following in February 2026.META PLANS STABLECOIN COMEBACK VIA STRIPE FOR H2 2026 CREATOR PAYOUTS:Meta Platformsis preparing to re-enter the stablecoin market in the second half of 2026, integrating third-party stablecoin payments across Facebook, Instagram, and WhatsApp.that Meta has issued requests for proposals to external infrastructure firms, with Stripe emerging as the likely partner after CEO Patrick Collison joined Meta's board in April 2025 and Bridge secured its OCC trust bank charter. Meta will not mint its own stablecoin but will act as a distribution channel for third-party stablecoins, likely USDC, with the use case centered on creator payouts, particularly approximately $100 cross-border transfers that currently incur high wire and foreign exchange fees. This follows the failure of Meta's 2019 Libra and Diem projects, though the regulatory landscape has shifted dramatically with the GENIUS Act signed in 2025.SPOT BITCOIN ETF FLOWS TURN POSITIVE WITH $257.7M INFLOWS:U.S.-listed spot bitcoin exchange-traded funds recorded $257.7M in net inflows Tuesday, the largest daily total since early February and reversing Monday's $203.8M in outflows., Fidelity's FBTC led with $82.81M in inflows, followed by BlackRock's IBIT with $78.52M and Ark Invest's ARKB with $71.14M. Cumulative net flows remain above $54B despite the 2026 drawdown, with total ETF assets under management near $85B, roughly 6.3% of bitcoin's market cap, though bitcoin ETFs have bled approximately $4.5B year-to-date overall as institutional investors continue risk-off positioning.TRUIST WEALTH OPENS SPOT BITCOIN ETF ACCESS THROUGH FIDELITY AND BLACKROCK PRODUCTS:Truist Wealththat its financial advisors will now offer clients two SEC-registered spot bitcoin ETFs sponsored by Fidelity and BlackRock, with the products also available for self-directed trading through Truist Trade. The move by the wealth management arm of Truist Financialreflects growing institutional adoption of regulated crypto exposure through ETF wrappers even as bitcoin's price remains volatile, with traditional banks and wealth managers increasingly treating spot bitcoin ETFs as acceptable client allocations within diversified portfolios.PRICE ACTION:As of time of writing, bitcoin was trading at $67,496.28, while etherwas trading at $2,014.50,.

The digital asset ecosystem is attempting to stabilize following a period of intense deleveraging, with institutional appetite and corporate efficiency taking center stage. As mining firms aggressively pivot toward artificial intelligence and fintech giants lean into leaner operations, the narrative is shifting from pure speculation to infrastructure utility. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.MINERS ABANDON BITCOIN PRODUCTION FOR ARTIFICIAL INTELLIGENCE INFRASTRUCTURE:The transition from digital asset production to high-performance computing is accelerating as publicly traded miners face historic economic pressure., bitcoinmining difficulty recently plummeted by 11%, the sharpest decline since the 2021 China crackdown, as revenue per petahash fell 50% from its peak. In response, Bitfarmsshares surged 17% after the companyand rebrand as Keel Infrastructure to focus entirely on AI and HPC data centers. This structural shift is mirrored by Cango, which sold 4,451 bitcoin for $305M to repay debt and fund the deployment of GPU infrastructure,. Even as some miners capitulate, analysts at Bernstein reiterated a $150,000 price target for bitcoin by 2026, arguing that the current drawdown is the "weakest bear case" in the asset's history.CORPORATE TREASURIES AND FINTECH GIANTS NAVIGATE VOLATILITY THROUGH EFFICIENCY:Major equity players are recalibrating their balance sheets to weather the ongoing "risk-off" macro environment. Strategycontinued its accumulation strategy, purchasing 1,142 bitcoin for $90M last week,. While Strategy doubles down, Blockis reportedly preparing to cut up to 10% of its workforce to drive margin expansion,.INSTITUTIONAL FLOWS STABILIZE AS RETAIL PLATFORMS TARGET MASS ADOPTION:Despite recent price turbulence, institutional exit velocity appears to be slowing., weekly global crypto ETP outflows moderated to $187M, a significant drop from the $1.7B weekly pace seen previously. While bitcoin saw net withdrawals, etherand rippleattracted renewed interest, with XRP leading inflows at $63.1M. This institutional stabilization coincides with a massive retail push; Crypto.com CEO Kris Marszalek spent a record $70M to acquire the ai.com domain to launch a decentralized network of AI agents,. Simultaneously, Coinbasereturned to the Big Game with a, following their intial 2022 superbowl ad. However, operational risks remain a concern,that South Korean exchange Bithumb is under investigation for a "fat-finger" error that mistakenly credited users with $40B in "ghost" bitcoin.ANALYSTS REITERATE RATINGS ON MINING AND INFRASTRUCTURE PIVOT:Financial institutions are closely watching the evolution of miners into data center infrastructure providers. Morgan Stanley initiated coverage on three prominent bitcoin stocks, highlighting the "time to power" advantage for AI data center conversions. BTIG analysts reiterated Buy ratings on several firms, noting that HPC-focused stocks have significantly outperformed the market.The following ratings, price targets, and notes were highlighted at BTIG:Strategy: Recent acquisitions were funded by the sale of common stock.Riot Platforms: Buy rating and $28.00 price target reiterated by BTIG analyst Gregory Lewis.Cleanspark: Buy rating and $26.00 price target reiterated by BTIG analyst Gregory Lewis.Hut 8: Buy rating and $55.00 price target reiterated by BTIG analyst Gregory Lewis.Morgan Stanley analyst Stephen Byrd initiated research coverage on the following names:TeraWulf: Initiated with an Overweight ratingCipher Mining: Initiated with an Overweight ratingMARA Holdings: Initiated with an Underweight ratingPRICE ACTION:At the time of this writing, bitcoin is trading at $70,081.95, while ether is currently trading at $2,093.50,.

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.CRYPTO EARNINGS:On Thursday, Strategyreported a fourth quarterwhich compared to a loss per share of ($3.03) for the same period last year and analyst revenue consensus of $118.5M. As of December 31, the company had cash and cash equivalents of $2.3B, as compared to $38.1M as of December 31, 2024."We raised $25.3B of capital in 2025 to advance our Bitcoin treasury strategy, making us the largest equity issuer among U.S. public companies for a second consecutive year. We increased our holdings to 713,502 bitcoins, including 41,002 bitcoins acquired in January 2026 alone. STRC, our flagship Digital Credit instrument, has grown to $3.4B in size, supported by increasing liquidity and declining volatility. Our variable dividend rate mechanism for STRC, currently set at 11.25%, has helped maintain STRC price stability near the $100 stated amount despite a weaker bitcoin price environment. In 2026, we remain focused on expanding STRC to generate amplification and drive growth in Bitcoin Per Share for MSTR common stock investors," said Phong Le, CEOAdditionally on Monday, Strategy announced an update on its bitcoin holdings. The company reported acquiring 855 bitcoin for approximately $75.3B at an average purchase price of $87,974 between January 26 and February 1. As of February 1, Strategy holds 713,502 bitcoin acquired for an aggregate purchase price of approximately $54.26B.Following earnings, BTIG lowered the firm's price target on Strategy to $250 from $630 and kept a Buy rating on the shares. The company's Q4 earnings call was overshadowed by bitcoin prices that traded off 8% in the hours leading up to the call, the analyst said. BTIG reminds investors that Strategy's convertible debt is "extremely over-collateralized" and is covered even if bitcoin prices drew down 80%. Further, the company has 30 months of USD reserves to cover preferred equity dividend payments, added the firm. It cited the recent bitcoin volatility for the target cut.On Tuesday, Galaxy Digitalreported a Q4which compared to analyst estimates of loss per share of (92c) and revenue of $16.6B. The company reported total equity of $3.04B and holdings of $2.6B in cash and stablecoins as of December 31.Following the report, Goldman Sachs lowered the firm's price target on Galaxy to $24 from $27 and kept a Neutral rating on the shares. Despite the weaker results in the quarter, largely driven by digital assets price depreciation, management remains constructive on the long-term growth trajectory across the Global markets and Asset management businesses, the analyst said. Meanwhile, H.C. Wainwright lowered the firm's price target on Galaxy to $40 from $45 and kept a Buy rating on the shares. The firm sees an attractive buying opportunity after shares tumbled on weaker-than-expected Q4 results. While the crypto bear market has been a headwind, the potential passage of crypto market structure legislation and the monetization of its data center business, which is on track to recognize revenue from its CoreWeavelease in the coming weeks, are identifiable near-term positive catalysts, the analyst added.On Thursday, IRENreported a Q2which compared to a loss per share of (10c) last year and analyst revenue estimates of $226.9M. The company had cash and cash equivalents of $2.8B as of January 31. "Last quarter marked meaningful progress across capacity expansion, customer engagement, and capital formation, reflecting IREN's progress as a scaled AI Cloud platform," said Daniel Roberts, Co-CEO. "We are seeing the strongest demand environment to date, and importantly, that demand is being met by a proven execution capability. Over several years, we have consistently delivered data center capacity on time and at scale, and that delivery track record continues to resonate with customers who value reliability alongside performance. "With more than 4.5GW of secured power, we are able to advance a broad set of opportunities in our pipeline and support the next phase of growth. Our $3.4bn ARR target represents an early stage of monetization relative to the size of our secured power portfolio, highlighting the scale of the platform we are building."Following the report, Cantor Fitzgerald lowered the firm's price target on IREN to $82 from $136 and kept an Overweight rating on the shares. Revenue and adjusted EBITDA were both down quarter over quarter due to a decline in bitcoin prices and a decline in operating hash rate, which was not unexpected given the company's transition of capacity away from bitcoin mining and towards AI compute, the analyst said. The firm believes the after-hours move lower is a buying opportunity. B. Riley raised the firm's price target on IREN to $83 from $74 and kept a Buy rating on the shares. IREN reported Q2 adjusted EBITDA of $75.3M, below both internal and consensus estimates, while highlighting key milestones including securing $3.6B in GPU financing, adding 1.6 GW of power capacity at a new Oklahoma campus, and progressing Sweetwater 1 & 2 in Texas, the analyst said. Despite the shortfall, the company targets $3.4B in annualized run-rate revenue by end of CY26, with expansion across Horizon 1-4 and B.C. sites positioning IREN as a de-risked, compelling long-term growth story, the firm saidMORE CRYPTO EARNINGS:On Thursday, CleanSparkreported a Q1which compared to earnings per share of 85c last year and a revenue consensus of $187.73M. The company held $485.1M in cash and $1B in bitcoin as of December 31."CleanSpark exited the quarter with one of the strongest balance sheets in our sector and a power and land portfolio that is increasingly scarce," said Matt Schultz, CEO. "We strengthened our financial foundation, secured up to 890 megawatts of high-quality utility potential capacity in the Houston region, and materially advanced our Sandersville site with the acquisition of an additional 122-acre parcel as we progress toward AI tenancy. Importantly, this expansion is being funded from a position of strength. Our scaled bitcoin mining operations continue to generate durable cash flows, and those cash flows are now being redeployed into long-duration infrastructure opportunities that we believe can drive significant shareholder value over time."Following the report, Needham lowered the firm's price target on CleanSpark to $19 from $25 and kept a Buy rating on the shares. The company modestly missed on revenues and Adjusted EBITDA, primarily driven by lower mining, though the firm is lowering its estimates further as bitcoin prices have materially pulled back, the analyst said. Cantor Fitzgerald lowered the firm's price target on CleanSpark to $17 from $21 and kept an Overweight rating on the shares. The investment case for CleanSpark has now shifted to AI, with what appears to be strong momentum for its Sandersville site, and the company is adding additional large site capacity behind that, the analyst said. The recent selloff makes shares attractive, the firm added. Meanwhile, Keefe Bruyette lowered the firm's price target on CleanSpark to $14 from $18 and kept an Outperform rating on the shares. The firm maintains high conviction in a 2026 Sandersville lease given the site's readiness, location, and active tenant engagement, which should help anchor shares near $10 despite BTC volatility, the analyst said.On Thursday, Bullishreported a Q4which compared to analyst estimates of earnings per share of 16c on revenue of $87.26M. Tom Farley, CEO, said, "I believe that we are at a turning point for digital assets. For all of crypto's extreme volatility and cyclicality, the vision of faster, better, cheaper, permissionless capital is being unlocked in real-time to bring everything onchain. What I envision immediately ahead for this industry - and, particularly for Bullish, is why I came to the digital asset space."Following earnings, Clear Street lowered the firm's price target on Bullish to $42 from $50 and kept a Buy rating on the shares. The company reported strong Q4 results and the fiscal 2026 outlook is solid, the analyst said. Clear cited the "risk-off" environment, weak investor sentiment, and uncertainty surrounding the timing of market structure legislation for the target cut.Meanwhile, JPMorgan lowered the firm's price target on Bullish to $41 from $42 and kept a Neutral rating on the shares. The firm views the company's Q4 report as inline.On Friday, Mawson Infrastructure Groupreportedcompared to revenue of $15.1M for the same period last year. The company also announced that it had reached a confidential settlement with Ionic Digital Mining to resolve claims Ionic brought against Mawson and two of its subsidiaries related to a co-location agreement. In addition, the company entered a separate, unrelated settlement to resolve a customer dispute over a hosting arrangement. Together, these resolutions eliminate a large portion of the company's potential financial liability going forward. Mawson made no admission of liability or wrongdoing in reaching either of these settlements."We are pleased to move forward from these pending cases and significantly reduce Mawson's potential liability," said Kaliste Saloom, Interim CEO and General Counsel of Mawson. "The clarity we now have on the future strength of our balance sheet will allow us to focus on driving operational execution and long-term growth for Mawson."BED BATH & BEYOND TO ACQUIRE TOKENS.COM:Bed Bath & Beyondannounced Monday that it has signedto establish a critical foundation for a unified investment and personal finance platform. The company said, "The platform will address a fragmented market for financial services by delivering a one-stop journey for real estate and other real-world asset finance that bridges tokenized and traditional investing. The platform will be integrated with our financial technology, insurance, and blockchain-based businesses. Bed Bath & Beyond currently maintains strategic investments and ownership interests in digital asset and blockchain businesses, including tZERO and GrainChain, held both directly and through its Medici portfolio. Tokens.com will be wholly owned by Bed Bath & Beyond and will benefit from Bed Bath & Beyond's deep experience and history in the advancement of tokenized assets as an early investor and proponent of blockchain technology. The platform will be supported by shared expertise, regulatory experience, and proven infrastructure services across Bed Bath & Beyond's portfolio." Bed Bath & Beyond anticipates the Tokens.com platform becoming operational by July 1, subject to closing and customary conditions."Our strategy brings together partners like Figure Technologies and Figure Markets, the infrastructure of tZERO, and the operating and AI integration capabilities provided by ShyftLabs," said Marcus Lemonis, CEO. "Providing responsible, compliant liquidity pathways for homeowners and real-world asset holders is our strategy and long-term vision."GEMINI TO EXIT OPERATIONS IN UK, EU, AUSTRALIA:In a Thursday regulatory filing, Gemini Space Stationdisclosed that the company approved a plan to exit andas part of a broader initiative to reduce operating expenses and support the company's path to profitability. "The company's business will continue operating in the United States and Singapore. The Plan is expected to include a reduction in force of up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximately 25% of the company's total global workforce as of February 4, 2026. The company expects the Plan to be substantially completed in the first half of 2026, subject to applicable local law and consultation requirements. In connection with the Plan, the company currently estimates that it will incur pre-tax restructuring and related charges of approximately $11M, substantially all of which are expected to result in cash expenditures…The company expects to recognize substantially all of these charges in the first quarter of 2026, subject to the timing of actions taken under the Plan and applicable local law and consultation requirements," the filing stated.Following the filing, Evercore ISI downgraded Gemini to In Line from Outperform with a price target of $10, down from $15. The firm said the market exits pushes out Gemini's growth story.Additionally, Goldman Sachs lowered the firm's price target on Gemini to $7.50 from $11.50 and keeps a Neutral rating on the shares. The wind down reflects the impact of the crypto sell-off on reducing crypto trading volumes, which has likely termed out Gemini's path to profitability, Goldman contended.BITFARMS PLANS U.S. REDOMICILIATION:Bitfarmsannounced Friday that its Board of Directors has approved a plan of arrangement under whichsubject to receipt of shareholder, stock exchange and court approvals. The arrangement is the culmination of a comprehensive strategic review process undertaken by the board over the past 12 months, including ongoing analysis of investor sentiment and capital markets trends to identify opportunities to enhance long-term shareholder value. The board unanimously determined that the U.S. redomiciliation is in the best interests of Bitfarms and unanimously recommends that the shareholders of the company vote in favor of the arrangement. Upon completion of the redomiciliation, the ultimate parent company of Bitfarms will be a corporation formed under the laws of the State of Delaware. It is anticipated that this new parent corporation will operate under the name Keel Infrastructure. To effect the redomiciliation, each outstanding common share of Bitfarms will be exchanged for one share of common stock of Keel Infrastructure pursuant to the arrangement. Upon completion, Keel Infrastructure US common stock is expected to trade on the Nasdaq and the Toronto Stock Exchange under the ticker symbol KEEL, subject to receipt of all necessary approvals of the Nasdaq and the TSX.  The redomiciliation is expected to be completed on or about April 1.CEO Ben Gagnon stated, "Bitfarms is officially launching the final phase of our pivot to the U.S., positioning us to more effectively execute on the significant opportunities we see ahead in HPC/AI infrastructure development. This transition will expand our access to new sources of capital, increase our eligibility for index inclusion, and simplify our story for U.S. investors, among other benefits that we believe support our ability to continue creating value for our shareholders. As a business, fortifying our U.S. footprint will bring significant benefits including reducing complexity for potential customers and enhancing our current relationships with suppliers and energy providers. We look forward to continued engagement with our shareholders to outline our clear path forward for value creation as a U.S. company."OTHER CRYPTO NEWS:Sharps Technology, BitGoannounceBitmine Immersionreports totalDeFi Development'sdfdvSOL token addedFiguredowngraded toat BofA, price target lowered to $57 from $66 at Goldman SachsLM FundingminesDDC Enterpriseacquires 105 additional BTC,IP StrategyreportsBit DigitalholdsCoinbaseprice targetTeraWulfacquiresCircle Internetinitiatedpartners with PolymarketHC Wainwright assumes Hut 8withinitiates American BitcoinwithCangoproducesSRx HealthreducesHive DigitalreportsCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platformsand TeraWulf.PRICE ACTION:As of time of writing, bitcoin dropped roughly 18% this week to $68,182 in U.S. dollars, according to CoinDesk.