Written by: Deep Tide TechFlow
Four years after its listing, on May 19, 2025, Coinbase Global Inc. (Stock Code: COIN) was officially included in the S&P 500 index. Following this news, Coinbase's stock price surged 10% in after-hours trading. Mizuho's senior payment analyst, Dan Dolev, remarked, 'This is a sign of the times, indicating that cryptocurrency stocks are being integrated into the mainstream.'
Data Source: TradingView
Considering the recent trends of crypto tech companies like Antalpha soaring over 70% on their first day of listing, and Galaxy Digital listing directly on Nasdaq after restructuring, it is evident that crypto stocks are becoming a special 'crypto hotspot': traditional market investors are starting to pay attention to companies in the crypto sector, while crypto enthusiasts view stock price changes of crypto companies as a barometer for market fluctuations.
From exchanges to mining giants, from financial services to hardware pioneers, the stock market and cryptocurrency are advancing in both directions. Deep Tide TechFlow organizes cryptocurrency-related listed companies on major global stock exchanges to unfold the current landscape of listed cryptocurrency enterprises for you.
Exchanges and Platforms (6 companies)
Coinbase Global Inc. (COIN)
Listing Date: April 14, 2021 | Exchange: NASDAQ | Stock Code: COIN | Monthly Gain: 28.83%
Cryptocurrency users will be familiar with Coinbase, established in 2012 and headquartered in San Francisco, serving over 120 million users across more than 100 countries. The platform supports trading of various crypto assets and also provides retail and institutional services, including Coinbase Custody and Prime, managing over $200 billion in assets. Coinbase holds licenses in multiple US states and continues to delve deep into blockchain, infrastructure, and payment solutions. On May 19, 2025, Coinbase was officially added to the S&P 500 index, becoming the first cryptocurrency concept stock to enter the S&P index.
Robinhood Markets, Inc. (HOOD)
Listing Date: July 29, 2021 | Exchange: NASDAQ | Stock Code: HOOD | Recent Weekly Gain: 13%
Robinhood was established in 2013, headquartered in California, and went public in 2021. Robinhood launched cryptocurrency trading services in 2018, allowing users to buy, sell, and hold Bitcoin, Ethereum, and several other mainstream cryptocurrencies without paying commissions.
Block, Inc. (XYZ)
Listing Date: November 19, 2015 | Exchange: NYSE | Stock Code: SQ
Block (formerly Square) was established in 2009, headquartered in San Francisco, and listed in 2015, focusing on payment and cryptocurrency services. Its Cash App supports Bitcoin trading and storage. Block promotes financial inclusion through peer-to-peer payment and blockchain technologies (such as TBD's decentralized platform), servicing global SMEs and individual users. The company invests in Bitcoin mining and hardware wallet development, leading in technological innovation.
Bakkt Holdings Inc. (BKKT)
Listing Date: October 18, 2021 | Exchange: NYSE | Stock Code: BKKT
Bakkt, supported by the Intercontinental Exchange (ICE), was established in 2018 and went public through a SPAC in 2021, focusing on institutional-level digital asset services. Headquartered in the United States, it offers Bitcoin futures, spot trading, and cryptocurrency payment solutions, collaborating with Starbucks and Mastercard to promote cryptocurrency usage in retail scenarios. Bakkt's custody services are known for high security and compliance, servicing banks and institutional investors.
OSL Group Ltd
Listing Date: April 27, 2012 | Exchange: HKEX | Stock Code: 0863
OSL is Hong Kong's leading digital asset platform, established in 2018, holding a virtual asset service license from the Hong Kong Securities and Futures Commission. It provides brokerage, trading, and custody services, managing over $5 billion in assets. OSL focuses on the Asian market, serving institutional and high-net-worth clients, with guaranteed compliance. OSL enhances its competitiveness through API technology and secure storage solutions.
eToro Group Ltd (ETOR)
Listing Date: May 15, 2025 | Exchange: NASDAQ | Stock Code: ETOR
eToro is a social trading platform established in 2007 in Israel, which went public on NASDAQ on May 15, 2025. Its 'copy trading' feature allows users to mimic professional traders, attracting over 30 million users globally. eToro supports trading of mainstream cryptocurrencies like Bitcoin and Ethereum, and offers stocks, ETFs, and other diversified assets, lowering the investment threshold for cryptocurrencies through a user-friendly interface and community-driven model.
Cryptocurrency Mining Related Companies (24 companies)
Bit Digital Inc. (BTBT)
Listing Date: March 19, 2018 | Exchange: NASDAQ | Stock Code: BTBT | Monthly Gain: 27.32%
Bit Digital was established in 2015, headquartered in New York, and listed in 2018. It is a leader in the Bitcoin mining sector, operating green energy mining sites in North America and Asia. The company lowers costs through renewable energy (such as hydroelectric power), maintaining a leading hash rate in the industry. Its AI computing service expansion (such as GPU leasing) brings new revenue sources.
Bitfarms Ltd (BITF)
Listing Date: June 21, 2021 | Exchange: NASDAQ | Stock Code: BITF
Bitfarms is a Canadian Bitcoin mining giant, established in 2017, operating mining sites in North and South America. The company optimizes mining efficiency using low-cost hydro and wind energy and maintains a leading hash rate in the industry, with a modular data center design enhancing operational flexibility.
Cipher Mining Inc. (CIFR)
Listing Date: August 30, 2021 | Exchange: NASDAQ | Stock Code: CIFR | Monthly Gain: 32.63%
Cipher Mining was established in 2020, headquartered in New York, and went public through a SPAC in 2021. The company focuses on Bitcoin mining in the United States, operating large mining sites in Texas and Ohio, optimizing profitability with efficient ASIC miners and low-cost energy.
CleanSpark Inc. (CLSK)
Listing Date: January 24, 2020 | Exchange: NASDAQ | Stock Code: CLSK | Monthly Gain: 18.73%
CleanSpark was established in 2014, headquartered in the United States. The company focuses on green Bitcoin mining, operating 100% renewable energy mining sites in Georgia and Nevada. Its energy management software optimizes electricity usage and reduces costs.
Core Scientific Inc. (CORZ)
Listing Date: January 20, 2022 | Exchange: NASDAQ | Stock Code: CORZ | Monthly Gain: 34.81%
Core Scientific is a leading blockchain infrastructure company in the United States, established in 2017 and listed in 2022. The company operates the largest mining facility in North America, providing Bitcoin mining and hosting services to institutional and retail miners. Its AI computing business (such as GPU clusters) is rapidly expanding, diversifying its revenue.
HIVE Digital Technologies Ltd (HIVE)
Listing Date: 2017 | Exchange: NASDAQ | Stock Code: HIVE | Monthly Gain: 23.8%
HIVE was established in 2017, headquartered in Canada, and listed in 2017. The company operates Bitcoin and Ethereum mining sites, with facilities across Canada, Sweden, and Iceland. HIVE utilizes green energy and combines high-performance computing (HPC) business, servicing AI and blockchain clients. HIVE diversifies risks through a multi-currency mining strategy and plans to expand its data center network in the future.
Hut 8 Corp (HUT)
Listing Date: March 2018 (TSX) | Exchange: NASDAQ/TSX | Stock Code: HUT | Monthly Gain: 36.72%
Hut 8 is a pioneer in mining and energy infrastructure in Canada, established in 2011 and listed in 2018. The company operates mining sites in North America. Hut 8 combines energy management and AI computing to develop efficient mining facilities, expanding its business through acquisitions (such as data centers). On May 12, Hut 8 announced that its subsidiary American Bitcoin will go public on the NASDAQ through a stock merger with GRYP, expected to be completed in the third quarter of 2025, with the new company operating under the American Bitcoin brand. It is anticipated that 98% of the new company's shares will be held by existing American Bitcoin shareholders.
Gryphon Digital Mining, Inc. (GRYP)
Listing Date: February 26, 2018 | Exchange: NASDAQ | Stock Code: GRYP | Monthly Gain: 446%
Gryphon Digital Mining was established in 2019, headquartered in the United States, and went public before 2021. It focuses on green Bitcoin mining, operating renewable energy mining sites in North America, and enhances profitability through low-cost energy and efficient ASIC miners. Gryphon also provides blockchain consulting services, diversifying its revenue. On the evening of May 12, GRYP saw a surge in stock price after the market opened, triggering circuit breakers multiple times, with prices rising over 440%.
IRIS Energy Ltd (IREN)
Listing Date: November 17, 2021 | Exchange: NASDAQ | Stock Code: IREN | Monthly Gain: 41%
IRIS Energy was established in 2018, headquartered in Australia, and listed in 2021. The company focuses on Bitcoin mining using 100% renewable energy, operating facilities in Canada and the United States. Its green mining strategy utilizes hydro and wind energy, attracting ESG investors, and its hash rate ranks among the industry's top.
Marathon Digital Holdings Inc. (MARA)
Listing Date: 2012 | Exchange: NASDAQ | Stock Code: MARA | Monthly Gain: 21%
Marathon Digital is a global Bitcoin mining giant, established in 2010 and listed in 2012. The company operates large-scale mining sites in North America and maintains a high hash rate through acquisitions and equipment upgrades, bolstered by a low-cost energy strategy and scaled operations.
Riot Platforms Inc. (RIOT)
Listing Date: 2003 | Exchange: NASDAQ | Stock Code: RIOT | Monthly Gain: 23.34%
Riot Platforms is a leading mining company in the United States, established in 2000 and listed in 2003. The company operates large mining sites in Texas. Riot optimizes costs through its own power facilities and efficient ASIC miners.
TeraWulf Inc. (WULF)
Listing Date: June 2021 | Exchange: NASDAQ | Stock Code: WULF | Monthly Gain: 41%
TeraWulf was established in 2021, headquartered in the United States, listed in 2021, with a valuation of $1.5 billion. The company focuses on zero-carbon Bitcoin mining, operating green mining sites in New York and Pennsylvania.
Applied Digital Corporation (APLD)
Listing Date: April 13, 2022 | Exchange: NASDAQ | Stock Code: APLD
Applied Digital was established in 2001. The company provides blockchain infrastructure and cloud computing services, operating data centers in the United States. Its business combines traditional IT and blockchain, servicing mining and AI clients.
Bitfufu Inc (FUFU)
Listing Date: March 1, 2024 | Exchange: NASDAQ | Stock Code: FUFU
Bitfufu was established in 2020, headquartered in Singapore, providing cloud mining and mining machine hosting services. Its cloud mining platform lowers the industry threshold, servicing global retail and institutional clients.
BIT Mining (BTCM)
Listing Date: November 12, 2013 | Exchange: NYSE | Stock Code: BTCM
BIT Mining is a Chinese cryptocurrency mining company, established in 2013, and listed on the NYSE in 2013. The company operates Bitcoin and Ethereum mining sites in North America and Asia. Previously, BIT Mining faced scrutiny for not meeting certain standards. In December 2024, BIT Mining announced that it had re-complied with the NYSE's continued listing standards.
Bit Origin (BTOG)
Listing Date: August 14, 2019 | Exchange: NASDAQ | Stock Code: BTOG
Bit Origin was established in 2018, headquartered in the United States, and listed in 2019. The company operates Bitcoin mining sites in the United States, focusing on small to medium-sized mining with low operating costs. In February 2025, Bit Origin faced Nasdaq delisting risk due to low stock prices.
Mawson Infrastructure Group Inc (MIGI)
Listing Date: September 29, 2021 | Exchange: NASDAQ | Stock Code: MIGI
Mawson was established in 2012, headquartered in Australia, and went public before 2021. The company operates mining sites in the United States and Australia, enhancing efficiency through modular data center design and increasing competitiveness with green energy.
Abits (ABTS)
Listing Date: November 15, 2016 | Exchange: NASDAQ | Stock Code: ABTS
Abits was established in 2016, providing cryptocurrency mining and investment services. Its small mining facilities and blockchain investment portfolio are competitive, enhancing profitability through low-cost operations.
The Ninth City (NCTY)
Listing Date: December 2004 | Exchange: NASDAQ | Stock Code: NCTY
The Ninth City was established in 1998, headquartered in China, and listed in 2004. Originally a gaming company, it transitioned to cryptocurrency mining in 2020, operating facilities in North America.
Greenidge Generation Holdings, Inc. (GREE)
Listing Date: September 14, 2021 | Exchange: NASDAQ | Stock Code: GREE | Monthly Gain: 17.76%
Greenidge was established in 2014, headquartered in the United States, and listed in 2021. It is a vertically integrated cryptocurrency mining and power generation company based in Dresden, New York. The company operates a natural gas power plant and a cryptocurrency mining facility. Greenidge leverages its own power generation capabilities to support its digital asset mining business, primarily focusing on Bitcoin mining.
Canaan Inc (CAN)
Listing Date: November 21, 2019 | Exchange: NASDAQ | Stock Code: CAN
Canaan is a leading Bitcoin mining machine manufacturer in China, established in 2013 and listed in 2019, producing the Avalon series of ASIC miners. The company expands its business through chip research and development, serving the global mining market. It is known as one of the three major mining companies in China, alongside Bitmain and Ebang International.
Ebang International (EBON)
Listing Date: June 26, 2020 | Exchange: NASDAQ | Stock Code: EBON
Ebang International was established in 2010, headquartered in China. Ebang initially focused on communication devices, later shifting to mining machine production. Ebang has strong capabilities in integrated circuits, possessing ASIC chip design capabilities, and is one of the earliest mining machine manufacturers to use 10nm ASIC chips for commercial use.
Intchains Group Ltd (ICG)
Listing Date: March 16, 2023 | Exchange: NASDAQ | Stock Code: ICG | Monthly Gain: 16.83%
Intchains Group was established in 2015, providing blockchain hardware and data center solutions. The company services mining and blockchain enterprises in Asia, dedicated to providing high-performance, energy-efficient IC solutions to optimize the computing needs of cryptocurrency mining and other blockchain-related processes.
CoreWeave (CRWV)
Listing Date: March 28, 2025 | Exchange: NASDAQ | Stock Code: CRWV
CoreWeave was established in 2017, originating as a cryptocurrency mining company named Atlantic Crypto. In 2019, it transformed into a cloud infrastructure provider based on GPU computing, renting computing power to customers in the cloud. Customers use the company's servers for demanding workloads such as AI model training and inference, graphic rendering, and other high-performance computing tasks. The company provides access to these high-power chips (primarily from Nvidia) and related data center resources, charging customers based on capacity and usage.
Cryptocurrency Investment and Financial Services (9 companies)
Galaxy Digital Holdings Ltd (GLXY)
Listing Date: August 1, 2018 (TSX)/May 16, 2025 (NASDAQ) | Exchange: NASDAQ/TSX | Stock Code: GLXY
Galaxy Digital is a digital asset financial services giant, established in 2018, headquartered in New York. It provides cryptocurrency trading, asset management, and investment banking services. On August 1, 2018, Galaxy was listed on the Toronto Stock Exchange. After restructuring, it will land on NASDAQ on May 16, 2025.
CoinShares International Ltd (CS)
Listing Date: March 2021 | Exchange: NASDAQ | Stock Code: CS
CoinShares is the largest and longest-operating digital asset investment company in Europe, established in 2017 and headquartered in London. The company provides crypto ETPs and asset management services. Its Bitcoin and Ethereum ETP products are leading in Europe, serving both institutional and retail investors.
Strategy, formerly MicroStrategy (MSTR)
Listing Date: 1998 | Exchange: NASDAQ | Stock Code: MSTR | Monthly Gain: 9.68%
MicroStrategy was established in 1989, headquartered in the United States, and listed in 1998. In 2025, MicroStrategy rebranded as Strategy. Through debt financing, it continuously increases its Bitcoin holdings, making Strategy the company with the most Bitcoin in the world. As of May 2025, Strategy holds 576,230 Bitcoins, accounting for nearly 3% of the total Bitcoin supply.
Amber International Holding Limited (AMBR)
Listing Date: March 13, 2025 | Exchange: NASDAQ | Stock Code: AMBR Amber Group was established in 2017, headquartered in Singapore, and listed on NASDAQ on March 13, 2025. The company provides cryptocurrency trading, asset management, and lending services. Its algorithmic trading and high-frequency trading technologies are globally leading, servicing institutional and high-net-worth clients.
Antalpha Platform Holding Company (ANTA)
Listing Date: May 14, 2025 | Exchange: NASDAQ | Stock Code: ANTA
Antalpha was established in 2018, headquartered in Singapore, focusing on upstream and downstream ecological services for Bitcoin mining, providing a range of ecological services such as equipment procurement and loan financing. On May 14, 2025, its first day of listing saw a surge of 70%, triggering circuit breakers.
Strive, formerly Asset Entities (ASST)
Announced Merger Listing Date: February 3, 2023 / May 7, 2025 | Exchange: NASDAQ | Stock Code: ASST
Strive was established in 2022, headquartered in the United States. On May 7, 2025, Strive Asset Management announced a merger with Asset Entities (ASST). After the merger, the company will be renamed Strive and continue to be listed on NASDAQ, transforming into a listed Bitcoin financial company.
Twenty One Capital (XXI)
Listing Date: April 23, 2025 | Exchange: NASDAQ | Stock Code: XXI
Twenty One Capital is backed by Tether, Bitfinex, and SoftBank, going public on April 23, 2025. It was formed through a SPAC merger with Cantor Equity Partners and held $3.6 billion worth of Bitcoin on its balance sheet at inception, making it the third-largest holder of Bitcoin globally.
Semler Scientific, Inc. (SMLR)
Listing Date: September 28, 2021 | Exchange: NASDAQ | Stock Code: SMLR | Monthly Gain: 30%
Semler Scientific was established in 2007, headquartered in California, focusing on medical technology and Bitcoin investments. Its core product is cardiovascular diagnostic equipment, and in recent years it has attracted attention with its Bitcoin treasury strategy while increasing Bitcoin holdings through cash flow and convertible bond financing.
Metalpha Technology Holding Limited (MATH)
Listing Date: October 20, 2017 | Exchange: NASDAQ | Stock Code: MATH
Metalpha Technology Holding Ltd is a wealth management company focused on digital assets. The company primarily generates revenue through executing cryptocurrency-related transactions, including issuing derivatives to OTC clients and its proprietary trading activities. It collaborates with a cryptocurrency exchange to provide market-making services for cryptocurrency derivatives, facilitating trading.
Cryptocurrency Ecosystem Asset Related Companies (6 companies)
Exodus Movement Inc. (EXOD)
Listing Date: December 18, 2024 | Exchange: NYSE | Stock Code: EXOD | Monthly Gain: -11.6%
Exodus was established in 2015, headquartered in the United States, and is primarily known for developing wallet applications that support multiple cryptocurrencies. The company's core business revolves around the Exodus wallet, a non-custodial wallet allowing users to securely store, manage, and trade various cryptocurrencies.
Fold Holdings, Inc. (FLD)
Listing Date: February 9, 2022 | Exchange: NASDAQ | Stock Code: FLD | Monthly Gain: 10.59%
Fold was established in 2019, headquartered in the United States. The company provides a Bitcoin rewards platform, allowing users to earn Bitcoin through debit cards and payment services. Fold attracts retail users through a 'crypto cashback' model, integrating with payment networks like Visa.
Mercurity Fintech Holding Inc (MFH)
Listing Date: April 8, 2015 | Exchange: NASDAQ | Stock Code: MFH
Mercurity was established in 2011, headquartered in the United States, and is a digital fintech company based in New York. It provides AI infrastructure, blockchain, and digital assets. Its three core businesses include 1. Blockchain and digital asset solutions; 2. AI and HPC infrastructure, developing liquid cooling solutions for AI data centers; 3. Offering comprehensive financial services through Chaince Securities, LLC (a FINRA-registered broker-dealer) and RIA.
Sol Strategies, Inc. (CYFRF)
Listing Date: 1998 | Exchange: TSXV | Stock Code: CYFRF | Monthly Gain: 30%
Sol Strategies Inc. (formerly Cypherpunk Holdings Inc.) is a Canadian public company focused on investing in the Solana blockchain ecosystem. The company changed its name to Sol Strategies in September 2024, shifting its core investment strategy to focus on the Solana ecosystem, including staking Solana (SOL) tokens and investing in Solana-based projects and infrastructure.
BTCS Inc (BTCS)
Listing Date: September 14, 2021 | Exchange: NASDAQ | Stock Code: BTCS
BTCS was established in 2013, headquartered in the United States. BTCS operates an online e-commerce market platform where consumers can purchase goods using digital assets (including Bitcoin). The company focuses on the blockchain and digital asset ecosystem. It operates a testing-phase e-commerce marketplace platform that accepts various digital currencies and has designed a testing-phase secure digital currency storage solution, BTCS Wallet. The company's blockchain infrastructure business includes two major revenue-generating activities: Ethereum block construction and validator node operation.
DeFi Development Corp (DFDV)
Listing Date: July 25, 2023 | Exchange: NASDAQ | Stock Code: DFDV
DeFi Development Corp (formerly Janover) was established in 2018, this real estate tech company has transformed into a publicly listed company focused on Solana, currently holding 609,190 SOL tokens, worth over $107 million. Last Friday, DFDV's stock price increased by 30%, rising 2800% since its pivot to Solana.
Conclusion
From a structural perspective, the currently listed cryptocurrency enterprises reflect a complete upstream, midstream, and downstream chain of the cryptocurrency world, mirroring the trajectory of blockchain from the edge to the mainstream.
Upstream, 24 mining and hardware companies operate mining sites, produce mining machines, or provide mining services. Meanwhile, many early mining companies are transitioning from single Bitcoin producers to diversified computing infrastructure providers, such as Core Scientific and CleanSpark, which have expanded their business into AI training and high-performance computing.
Cryptocurrency trading platforms like Coinbase and Robinhood remain in the midstream, focusing on matching trades and payment services while continuously expanding compliance boundaries through the form of public listings to establish a foothold in mainstream financial markets.
Downstream, enterprises focusing on cryptocurrency asset management services connect resources inside and outside the circle through hoarding coins and providing cryptocurrency derivative financial products, guiding more users to engage with cryptocurrency. Meanwhile, endogenous enterprises within the cryptocurrency ecosystem nurture the native environment through investment and research and development, promoting the expansion of cryptocurrency applications. As the most liquid nodes in the cryptocurrency market, exchanges are exploring ways to connect US stocks with cryptocurrency. For example, Bybit recently launched a US stock asset trading channel, allowing users to trade popular US stocks and financial products such as gold and crude oil forex directly using USDT through CFD (Contract for Difference) tools.
As the potential IPOs of crypto giants like Circle and Kraken loom, the spark of 'crypto entering the market' has begun to spread widely, and 'token prices' are no longer the only standard for judging the cryptocurrency market.
