Data Center Plays and Bitcoin Rally Boost Galaxy, Bitfarms, Circle Stocks
Shares of Galaxy Digital, Bitfarms, and Circle rose sharply Thursday as bitcoin climbed above $115,000, highlighting renewed investor interest in crypto-linked infrastructure and services.
Galaxy gained 12%, supported by its lead role in Forward Industries’ $1.65 billion fundraising for a Solana treasury vehicle, as well as rising demand for data centers tied to AI hosting contracts like Microsoft’s Nebius deal. Bitfarms surged 18%, extending a 60% weekly rally, backed by high-performance computing initiatives and new board appointments, including former AWS executive Wayne Duso.
Circle rose 16%, snapping a months-long decline despite no specific news catalyst. Other crypto equities including Coinbase, Robinhood, Marathon Digital, and Riot Platforms also moved higher, outperforming the S&P 500 and Nasdaq 100 indexes.
Conversely, bitcoin treasury vehicles Metaplanet and Nakamoto fell, down 10% and 14% respectively, even as bitcoin recovered from morning weakness triggered by inflation and jobless claims data.
