5 'Crypto Treasury Stocks' Ready To Surge Even Higher 5 'Crypto Treasury Stocks' Ready To Surge Higher -

Major cryptocurrencies, including Bitcoin, Ethereum, and Solana, have surged to new highs over the last 12 months. The reasons are due to friendlier regulatory policies and Wall Street's growing embrace of digital assets.

However, one type of crypto investment is performing even better: stocks utilizing cryptocurrency treasury strategies, particularly those leveraging Ethereum and Solana to generate yield.

These so-called “crypto treasury stocks” are on the rise, and some smaller companies have begun accumulating Ethereum and Solana for both yield and potential price appreciation.

Best of all, you can take advantage of this trend without needing to purchase any digital assets.

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You can't discuss a crypto treasury without mentioning the OG company, MicroStrategy, now Strategy Inc. (NASDAQ:MSTR). CEO Michael Saylor purchased $250 million in Bitcoin in August 2020 and proceeded to accumulate more than $27 billion worth by the end of 2024, using nearly all the company's free cash flow and issuing debt to sustain the buying spree.

Unlike most companies at the time, MicroStrategy considered BTC a long-term reserve asset, not a speculative trading instrument. Was the strategy a success? You be the judge: the stock is up more than 2,000% in the last five years.

These five crypto treasury stocks have even more potential, however.

BitMine Immersion Technologies Inc.

BitMine Immersion Tech (NASDAQ:BMNR) initially positioned itself as a major player in Bitcoin mining, developing computer equipment and cooling systems for high-intensity mining operations. The company has since pivoted to an Ethereum treasury strategy and has grown to become the largest public holder of ETH. BMNR has amassed 2.4 million ETH (valued at approximately $10 billion according to CoinGecko), and its market cap has surged to over $9.5 billion.

The stock had a meteoric rise and fall in July, as cryptocurrency and its adjacent assets are known to do. But BMNR shares have found support now that the rollercoaster ride has subsided, and a more sustainable uptrend could be forming. The price has consistently traded above its 50 and 200-day simple moving averages (SMAs) since the rally began, and the 50-day SMA has been acting as support since August. The parabolic gains may not return, but the stock appears poised to transition into a more mature phase of its uptrend.

MARA Holdings Inc.

MARA Holdings (NASDAQ:MARA) (formerly Marathon Digital Holdings) is a Bitcoin miner you may recall from the halcyon days of the COVID-19 crypto rally, when it surged from penny stock status to $75 per share and back again in just under two years. Today, it continues to run its mining operation, while also maintaining a Bitcoin treasury that has amassed nearly 50,000 tokens as of Q2 2025. And its Bitcoin holdings are not the only thing going up; the company's revenue is also showing strong growth.

During its July 29 earnings release for Q2, MARA reported $238 million in revenue, a 64% year-over-year (YOY) increase, with $1.84 in earnings per share (EPS). The earnings surprise lowered the company's Price-to-Earnings (P/E) ratio to 9.8, and the stock now sports a Benzinga Edge Growth score of 99.13. A Golden Cross formed on the daily chart in early September, and now the share price has broken out above the 50-day and 200-day SMAs. Fundamental and technical tailwinds could be setting up another rally, and perhaps this one will be sustainable.

SharpLink Gaming Inc.

SharpLink (NASDAQ:SBET) is a relatively new player in the cryptocurrency treasury space, having spent its past life as a sports betting market company. But it has quickly gained attention by hiring former BlackRock digital assets executive Joseph Chalom as its new co-CEO and accumulating more than 700,000 ETH by the time of its Q2 2025 earnings release. The value of its ETH holdings has eclipsed $2.5 billion, and it’s on track to finally turn a profit in Q3. The stock even now has analyst coverage; Alliance Global Partners rates it a Buy with a $48 price target, which is nearly triple the current market price.

Despite SBET shares trending down over the past few months, there's evidence of stabilization on the daily chart. The MACD is beginning to make a bullish turn, but the price likely needs to break above the 50-day SMA before any sustainable uptrend can set in.

Cleanspark Inc.

Cleanspark (NASDAQ:CLSK) has been living the HODL lifestyle since before crypto was mainstream. The company entered the Bitcoin mining industry in 2020 and currently holds more than 12,000 BTC valued at about $1.5 billion. Cleanspark is yet to turn an annual profit on its operations, but the $198 million in Q2 2025 revenue was a quarterly record, growing more than 60% YOY. The growth is substantial enough that the company has announced an expansion of its operations, which has sent the stock soaring over the last few sessions.

Technical signals on the daily chart have confirmed the stock's roaring breakout. The price has ripped well above the 50-day and 200-day SMAs over the last few weeks, with the MACD confirming the uptrend with a bullish crossover. Sharp-eyed investors who noticed the Golden Cross form in July found very profitable entry points, and now the rally is gaining momentum.

Upexi Inc.

Let's give a little love to Solana, which is similar to Ethereum in its adaptability and yield-earning potential, but operates with faster transaction speeds and lower fees. Upexi (NASDAQ:UPXI) has a market capitalization of just over $360 million, and its consumer products business generates approximately $26 million in annual sales. But if you're looking for massive upside and don't mind a little volatility, a SOL treasury stock like Upexi could provide what you're seeking.

UPXI announced a new record $447 million in SOL holdings last week, which is significantly more valuable than its stock market cap. While this strategy could be risky if Solana suffers a massive drawdown, it’s a risk worth taking for a small public company with stagnant revenue from its primary business. Shares dropped precipitously in July, but a new uptrend is now forming, and the stock is currently approaching its long-term support line. The RSI is also hinting at a bottom, so this could be a decent entry point for new investors looking to ride the next wave of momentum.

Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.

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BMNRBitMine Immersion Technologies Inc

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