Cryptocurrency firms face pressure from financial reports: how stock prices have shifted by the end of winter., 2026/02/24 23:59:59

Major cryptocurrencies have been experiencing a decline in value for the past six months. Global tensions are escalating, loans are not becoming cheaper, and the likelihood of new military conflicts and economic upheavals remains high. Cryptocurrency firms, like all other businesses, are required to report their activities to shareholders. How have recent reports affected stock prices?

Impact of 2025 in Retrospect

Not all companies have yet reported their results for the past year. Any business requires some time to gather comprehensive information. By February, most large organizations typically publish their results, including those that invest in Bitcoin, accept BTC as payment, or are involved in mining the leading cryptocurrency.

TeraWulf (NASDAQ: WULF)

TeraWulf leads the top ten with a market capitalization of $6.56 billion. Previously focused on mining, the company has now shifted its emphasis to developing artificial intelligence (AI) infrastructure. This shift contributed to a 17.31% increase in stock prices in February 2026. Among the factors driving this rise is a positive assessment from Morgan Stanley, which indicated that TeraWulf’s shares could potentially reach $37, which is 2.4 times higher than the market price in February 2026. Additionally, TeraWulf recently expanded its capacity by 1.5 GW through the acquisition of two new sites in Kentucky and Maryland. The company plans to report its fourth-quarter results for 2025 on February 26, and investors are anticipating favorable financial outcomes.

Source: tradingview.com

Galaxy Digital (NASDAQ: GLXY)

Galaxy Digital occupies the ninth position with a market capitalization of $7.88 billion. The company offers a diversified range of services related to digital currencies, including consulting, trading, asset management, and AI development. In February 2026, its stock experienced a decline of 28.03%. The primary reason for this negative trend was a dismal report for the fourth quarter of 2025, where Galaxy Digital reported a net loss of $482 million. The company attributed this outcome to a downturn in the cryptocurrency market and one-time expenses of $160 million.

Source: tradingview.com

BitMine Immersion Technologies (NYSE: BMNR)

The eighth position is held by BitMine Immersion Technologies, which has the largest reserve of Ethereum. The company also provides infrastructure for Bitcoin mining. Market capitalization stands at $8.74 billion. In February, the company’s stock fell by 23.43%. The main issue for BitMine is the ongoing decline in ETH prices, which has resulted in an unrealized loss of $8.8 billion.

Source: tradingview.com

IREN (NASDAQ: IREN)

IREN, a company engaged in mining and increasingly focusing on AI revenue, ranks seventh with a capitalization of $14.05 billion. In February, the company’s stock price decreased by 21.18%. The main catalyst for this negative trend was a disappointing report for the second financial quarter of the year, showing a revenue drop of $55.6 million compared to the first quarter. A net loss of $155.5 million was recorded. The financial year does not align with the calendar year, ending on June 30 instead of December 31.

Source: tradingview.com

Block (NYSE: XYZ)

Payment service Block (formerly Square) occupies the sixth position with a market capitalization of $30.93 billion. The service not only facilitates Bitcoin transactions through its Cash App but also purchases BTC itself. February brought a decline of 16.02% for the company’s shares. One of the main reasons for this drop is that analysts from Zacks Investment Research anticipate a weak report from Block for the fourth quarter of 2025, with earnings per share expected to decrease by 8.5% to $0.65. Additionally, investors may have been concerned by the news that Block decided to cut 10% of its workforce (over 1,000 employees) to optimize costs at the beginning of the month.

Source: tradingview.com

Grayscale Bitcoin Trust (NYSE: GBTC)

The top five largest crypto companies is led by the Grayscale Bitcoin Trust, a spot Bitcoin ETF, with a market capitalization of $34.77 billion. In February, its shares (units) lost 23.16% of their value. Investors have been withdrawing funds from GBTC since its conversion to a spot ETF, marking 26 consecutive months of outflows. In February, the outflow from the fund amounted to $272.37 million. The behavior of crypto investors can be attributed not only to the correction in Bitcoin prices but also to the fund’s fees, which are six to eight times higher than those of competitors.

Source: tradingview.com

PayPal (NASDAQ: PYPL)

Payment service PayPal, with a market capitalization of $41.21 billion, ranks fourth in February’s list. The service not only allows its customers to pay for services using cryptocurrency but also has its own stablecoin, PYUSD. February saw a decline of 16.4% in PYPL shares. The company has been experiencing significant volatility. The month began with a gap down in price. This was influenced by the resignation of CEO Alex Chriss, a disappointing fourth-quarter report for 2025 that fell below expectations, and an unfavorable forecast for the year indicating a potential drop in earnings per share. In the latter half of February, the stock rebounded somewhat on rumors that PayPal might be sold entirely or in parts.

Source: tradingview.com

Strategy (NASDAQ: MSTR)

Strategy (formerly MicroStrategy), which holds the largest reserve of BTC among public companies, ranks third with a market capitalization of $41.28 billion. February marked the seventh consecutive month of declining stock prices for the company, with a drop of 17.37%. Strategy’s shares are closely correlated with Bitcoin price fluctuations, as its primary business involves investing in the leading cryptocurrency. The company continues its aggressive BTC acquisition strategy, having purchased an additional 592 BTC for $39.8 million in mid-February, bringing its total reserve to 717,722 coins. Investors are concerned that the company’s unrealized loss had already exceeded $7 billion by the end of February.

Source: tradingview.com

Coinbase (NASDAQ: COIN)

The second-largest company by market capitalization is the cryptocurrency exchange Coinbase, valued at $43.2 billion. The second month of the year brought a 17.72% decline for its shareholders. The primary factor behind the drop in the exchange’s stock, aside from the decrease in cryptocurrency prices, was a weak financial report for the fourth quarter of 2025. For the first time since the third quarter of 2023, Coinbase reported a loss of $667 million. Additionally, transaction revenue in October to December fell by 45% compared to the same period in 2024.

Source: tradingview.com

Tesla (NASDAQ: TSLA)

At the top remains the electric vehicle manufacturer and significant Bitcoin holder, Tesla, with a market capitalization of $1.5 trillion. In February, the company’s stock, led by Elon Musk, fell by 7.1%. Several factors contributed to this decline.

Firstly, competition in the robotaxi market is intensifying. The Uber platform has decided to invest over $100 million in developments in this area.

Secondly, Tesla faced reputational damage after losing a court case regarding the death of Naibel Banavides Leon and injuries to Dillon Angulo in April 2019, where their Model S vehicle was operated by autopilot. The company failed to provide convincing evidence of its innocence in the incident. The court found it 33% liable and ordered it to pay over $240 million to the victims, with the remaining 67% assigned to the vehicle’s owner, George McGee.

Thirdly, the situation regarding American import tariffs remains unclear. On one hand, the U.S. Supreme Court deemed President Donald Trump’s decision unconstitutional. On the other hand, the American president immediately announced a 15% tariff on all imports.

Source: tradingview.com

Conclusion

In February, the stocks of cryptocurrency companies predominantly fell in line with digital assets. The only exception was TeraWulf, whose stock price increased due to the expansion of mining capacities and a positive assessment of WULF shares by reputable analysts.

This material and the information contained herein do not constitute individual or any other investment advice. The views of the editorial team may not align with those of analytical portals and experts.