Bitcoin-Linked Stocks Surge Early in 2025, Signaling Shift to Fundamentals for 2026

Crypto-linked stocks surged at the start of 2025 amid Bitcoin's rally above $100,000, with top performers like BitMine Immersion Technologies gaining over 300%. However, mid-year shifts emphasized fundamentals, leading to divergence where sustainable models outperformed pure narrative plays by year-end. BitMine Immersion Technologies (BMNR) led with +318% gains, driven by its Ethereum treasury pivot. Early [...]