Editor's Note: For the cryptocurrency industry, the market in the first month of 2026 is nothing short of a winter for the industry, which is particularly evident in the price performance of crypto concept stocks. Companies like Strategy, Bitmine, Sharplink, and Forward have all seen significant price corrections in their BTC, ETH, and SOL treasury stocks; in contrast, benefiting from the demand for AI/HPC computing power and large orders, many mining concept stocks have performed well, but they are still some distance from last year's price highs. Considering the current market trends, mining stocks may continue their upward momentum, especially with Terawulf and Cipher Mining gaining favor with well-known investment bank analysts. Meanwhile, Jupiter Lend has listed the publicly traded company DFDV's liquid staking token dfdvSOL as collateral, which may signify a deepening of the integration between DeFi and TradFi liquidity.
The following is a summary of the cryptocurrency stock market information from last week compiled by Odaily Planet Daily, with all US stock data sourced from msx.com.
Cryptocurrency concept stocks sharp review: Mining stocks had a bright performance in January, but are still 15% away from last year's peak
JPMorgan Chase: Mining stocks significantly outperformed BTC in January, with short-term prospects supported but valuation divergence widening
JPMorgan Chase stated in its report that Bitcoin mining companies performed strongly at the beginning of 2026, thanks to the decrease in network competition and renewed enthusiasm for high-performance computing (HPC). The bank noted that the 14 Bitcoin mining companies and data center operators it tracks in the U.S. had a total market cap of 60 billion dollars at the end of last month, growing 23% month-on-month, far exceeding the 1% increase in the S&P 500 index. This increase is partly attributed to the news that Riot Platforms signed an HPC agreement with AMD, highlighting the efforts of mining companies to seek diversification beyond Bitcoin. Facing record low profit margins after the 2024 halving, Bitcoin miners are repositioning themselves as digital infrastructure providers, transforming energy-intensive mining sites into data centers for AI to seek more stable, long-term income.
The report pointed out that winter storms across the United States in January caused an average network hashrate to decrease by 6% to 981 EH/s, with mining difficulty down 5% from December. The drop in competition helped offset the weak Bitcoin price. Analysts estimate that miners' daily block reward income in January was about 42,350 dollars per EH/s, slightly up from December, while gross profit increased by 24% to about 21,200 dollars per EH/s. Among the 14 mining companies tracked by JPMorgan Chase, 12 outperformed Bitcoin's 4% decline in January, with IREN up 42% and Cango down 18%. The total valuation of this group is still about 15% lower than the peak in October 2025.
Bloomberg: Selling pressure from crypto treasury listed companies is rising, which may trigger market chain risks
Crypto asset treasury listed companies (DATs) are currently facing market chain risk issues due to increased selling pressure, following the market rally driven by them last year. Data shows that since Bitcoin dropped nearly half from its 126,000 dollar peak in October last year, the median stock price of the 150 largest DATs has fallen by 62%, even more than Bitcoin's decline. Tokenize Capital managing partner Hayden Hughes analyzed that DATs, which have no operating income and rely solely on hoarding crypto assets, will be forced to sell holdings to maintain operations, which may shake investor confidence in their 'long-term hold' narrative, triggering broader market sentiment contagion.
Morgan Stanley analysts: Two mining companies are expected to rise over 150% within a year
Morgan Stanley analyst Stephen Byrd stated that despite Bitcoin's price dropping 44% since October, Bitcoin mining companies have been rejuvenated as AI data centers. Stephen Byrd initiated coverage on Terawulf and Cipher Mining on Monday, expecting share prices to rise 159% and 158%, respectively. Stephen Byrd pointed out that the core asset of mining companies is access to electricity, and AI companies are willing to pay a premium to obtain power, and the economic benefits of AI business are superior to cryptocurrency mining. Currently, Terawulf has signed a power agreement for 510 megawatts with Google, and Cipher Mining has also reached similar collaborations with companies like Amazon. Additionally, Stephen Byrd has assigned a low allocation rating to MARA Holdings, believing its AI strategy is not focused enough.
Weekly updates on cryptocurrency stock listed companies
BTC treasury listed companies representational enterprises
Last week, global listed companies net purchased BTC for 92.83 million dollars, with Strategy investing 90 million dollars to purchase 1,142 Bitcoins, an increase of 19.5% compared to last week's purchase amount
According to SoSoValue data, as of 8:30 AM EST on February 9, 2026, the total net purchases of Bitcoin by global listed companies (excluding mining companies) for the week was 92.83 million dollars, a decrease of 24.5% from the previous week.
Strategy (formerly MicroStrategy) announced on February 9 that it has invested 90 million dollars (an increase of 19.5% compared to last week's purchase amount) to acquire 1,142 Bitcoins at a price of 78,815 dollars each, bringing total holdings to 714,644 Bitcoins.
Japanese listed company Metaplanet did not purchase Bitcoin last week, marking four consecutive weeks without purchases.
In addition, five other companies purchased Bitcoin last week. The Japanese food brand DayDayCook announced on February 5 that it invested 9.12 million dollars to purchase 105 Bitcoins at a price of 86,868 dollars each, bringing total holdings to 1,888 Bitcoins; the entrepreneurial education learning platform company Genius Group Limited announced on February 6 that it sold 96 Bitcoins at a price of 73,238 dollars each, generating a total income of 7.03 million dollars, reducing total holdings to 84.15 Bitcoins; Swedish health tech company H100 invested 3 million dollars on February 6 to purchase 4.39 Bitcoins at a price of 66,620 dollars each, bringing total holdings to 1,051.05; the UK Bitcoin company BHODL announced on February 6 that it spent 70,000 dollars to purchase 1 Bitcoin at a price of 66,950 dollars, bringing total holdings to 161.388 Bitcoins; French Bitcoin reserve company Capital B announced on February 9 that it invested 370,000 dollars to purchase 5 Bitcoins at a price of 73,893 dollars each, bringing total holdings to 2,828 Bitcoins.
Canadian Bitcoin ecosystem company Metador Technologies announced the launch of an ATM equity issuance program, aiming to raise approximately 21.98 million dollars for the purchase of Bitcoin. Metador Technologies plans to hold 1,000 Bitcoins by the end of 2026.
As of the time of writing, the total amount of Bitcoin held by global listed companies (excluding mining companies) in the statistics is 974,480 Bitcoins, an increase of 0.035% compared to last week, with a current market value of approximately 67.36 billion dollars, accounting for 4.9% of Bitcoin's circulating market value.
Bitcoin treasury company ProCap repurchased approximately 135 million dollars of convertible bonds
On February 9, Nasdaq-listed Bitcoin treasury company ProCap Financial disclosed it repurchased approximately 135 million dollars of convertible bonds today. The company has repurchased about 2% of its outstanding common stock since December 2025. Additionally, the company also disclosed that its current Bitcoin holdings are approximately 5,007, with a cash balance of 72 million dollars and an outstanding convertible bond size of about 100 million dollars.
The UK's largest Bitcoin treasury company listed on the London Stock Exchange main board last week
The UK's largest Bitcoin treasury company Smarter Web Company officially listed on the main market of the London Stock Exchange on February 3, with the stock code SWC. On the first day of listing, the stock price was reported at 43 pence, corresponding to a market value of approximately 118 million pounds. Public information shows that Smarter Web Company currently holds 2,674 Bitcoins, with an average purchase price of about 111,000 dollars, making it the largest Bitcoin treasury listed company in the UK by holdings.
ETH treasury listed companies representational enterprises
BitMine: Increased holdings by 40,613 ETH last week, bringing total holdings to approximately 4.326 million ETH
Ethereum treasury company BitMine Immersion Technologies disclosed it increased its holdings by 40,613 ETH last week, with the company's crypto asset holdings including 4,325,738 ETH, 192 BTC, equity in Eightco Holdings valued at 19 million dollars, shares of Beast Industries worth 200 million dollars, and 595 million dollars in cash.
ETHZilla launches aircraft engine cash flow RWA tokens
Nasdaq-listed company ETHZilla (ETHZ) announced that it will launch the Eurus Aero Token I this week, splitting the monthly cash flow generated by leasing aircraft engines into tokens, providing investors with on-chain yield exposure.
The token is issued by the subsidiary ETHZilla Aerospace, with the underlying assets being two commercial aircraft engines leased to a 'leading American airline.' Token holders will receive monthly cash flow distributions generated from base rent and usage fees through ERC-20 tokens.
ETHZilla received support from Peter Thiel's Founders Fund. The company was previously known for its Ethereum reserve strategy but has gradually turned to real-world asset (RWA) tokenization since last year. Previously, the company completed an asset tokenization experiment involving 95 housing loans.
As the blockchain industry accelerates the push for traditional assets to go on-chain, RWA is seen as one of the fastest-growing tracks. Ark Invest expects that by 2030, the scale of tokenized assets could reach 11 trillion dollars, while the current market size is about 22 billion dollars.
ETHZilla turns to real estate tokenization, reaching a 4.7 million dollar housing loan agreement
Ethereum treasury company ETHZilla (ETHZ) is accelerating its layout of asset tokenization, investing 4.7 million dollars to acquire a portfolio of 95 housing and modular housing loans, and plans to tokenize these loans on the Ethereum Layer-2 network, issuing cash flow-type digital tokens to investors through the regulated trading platform Liquidity.io. The loan portfolio is secured by a priority lien, with an expected annualized return of about 10%. ETHZilla's chairman and CEO McAndrew Rudisill stated that this transaction is a natural extension of the company's tokenization strategy, as manufactured housing loans have stable cash flows and strong collateral assets, making them very suitable for tokenization within a regulated and transparent framework.
Ethereum treasury company FG Nexus announced it will implement a 1:5 reverse stock split
Nasdaq-listed Ethereum treasury company FG Nexus announced it will implement a 1:5 reverse stock split, meaning every 5 shares of common stock will automatically merge into 1 share. The company expects this to take effect at 9:30 AM EST on February 13, 2026, and will also use a new CUSIP number 30329Y403. After the split, its stock will continue to trade on Nasdaq under the symbol 'FGNX'. According to current outstanding shares of about 32.7762 million, the number of outstanding shares after the split is expected to decrease to about 6.5552 million; the authorized number of common shares will be reduced from 90 billion to 18 billion.
Bit Digital disclosed it held 155,239.4 ETH at the end of January, worth over 380 million dollars
On February 6, Nasdaq-listed Ethereum treasury company Bit Digital released a holdings update, stating that as of January 31, 2026, the company held 155,239.4 ETH, valued at approximately 380.2 million dollars, with an average purchase price of 3,045 dollars. In addition, the company also disclosed that as of the end of January, it had staked a total of 138,266 ETH, generating approximately 344 ETH in staking rewards.
SOL treasury listed companies representational enterprises
Forward Industries stated that if industry funds come under pressure, it will adopt an aggressive strategy and integrate with other SOL treasury companies
Solana treasury company Forward Industries (FWDI) Chief Information Officer Ryan Navi stated that there is a mispricing in the market, creating potential opportunities for the company. Ryan Navi pointed out that Forward Industries currently has no debt, and if the industry faces financial pressure, the company will adopt an aggressive strategy to promote the integration of other SOL treasury companies.
He disclosed that Forward Industries currently holds nearly 7 million SOL, with a position larger than the total of its top three competitors. Ryan Navi further stated that a debt-free, unleveraged balance sheet is seen as a core advantage in the crypto treasury market, and the company will continue to allocate Solana as a long-term strategic infrastructure without using leverage or incurring debt, rather than as a short-term speculative tool.
Solana treasury company Upexi will raise 7.4 million dollars through a share issuance
On February 6, Nasdaq-listed Solana treasury company Upexi announced it had reached a final agreement with an institutional investor to sell and issue 6,337,000 shares of common stock and warrants at a price of 1.17 dollars per share, raising 7.4 million dollars. The net proceeds from this issuance will be used for working capital, general corporate purposes, and to expand its SOL token investment strategy, with AGP/Alliance Global Partners serving as the sole placement agent for this common stock and warrant issuance.
Jupiter Lend lists DFDV's liquid staking token dfdvSOL as collateral
On February 5, Jupiter's lending platform Jupiter Lend announced it has listed the liquid staking token dfdvSOL launched by Solana treasury company DeFi Development (DFDV) as collateral, allowing users to borrow assets directly on-chain and release the liquidity of their staked SOL.