Overview of Best-Performing Bitcoin and Crypto Stocks in 2025
Bitcoin topped $100,000 in January 2025, reaching about $109,000 on January 20 according to CoinGecko, which fueled a rally in crypto-linked stocks, with Hut 8 Corp. (HUT) and Riot Platforms Inc. (RIOT) leading advances. As of December 15, the top performers included BitMine Immersion Technologies (BMNR) up 318%, HUT up 83%, GLXY up 26%, RIOT up 24%, SBET up 14.7%, and Metaplanet (3350) up 13%. Early 2025 saw explosive gains for narrative-driven crypto exposure; by May, SBET rose over 870% and BMNR surged more than 1,800%, with Metaplanet up over 420% by mid-June.
BMNR experienced a notable surge following Ethereum treasury news, rising from $4.07 to $161 in under a week, a near-4,000% increase, before declining about 41% by late June. This rise contrasted with Michael Saylor's Strategy (MSTR), which, despite accumulating over 10,000 BTC in 2025, underperformed relative to Bitcoin proxies and was viewed as a different crypto investment approach.
Mid-year, there was a market shift towards fundamentals, focusing on funding quality, dilution risk, and underlying net asset value (NAV). By year-end, stocks with durable business models tended to outperform amid volatility. Hash rate and mining economics became important mid-year factors; Bitcoin's hash rate hit a new all-time high of 1.15 quintillion hashes per second on October 20, with Bitcoin reaching $126,080 on October 6, aligning mining equities with the hash-price.
Circle (CRCL) surged about 360% after its June IPO, peaking at $298 on June 23, before falling roughly 70% by December 15 as investors reassessed profitability and growth expectations for USDC. Looking ahead to 2026, execution and revenue visibility are expected to drive returns in crypto stocks, which remain sensitive to Bitcoin and Ethereum price movements. Analysts also cite regulatory clarity and capital discipline as key factors influencing the sector's performance.
