As Bitcoin, Ethereum, and other cryptocurrencies experience significant legal, institutional, and technological developments, the financial landscape is dynamically evolving. To keep abreast of crucial crypto news, The Fly continues to offer its “Crypto Currents” weekly update, alongside a comprehensive daily recap every afternoon.
In earnings news, Strategy (MSTR) disclosed a fourth-quarter loss per share of $42.93 on revenues totaling $123 million, starkly contrasting with a loss per share of $3.03 during the same period last year. Analysts had anticipated revenue of $118.5 million. As of December 31, the company reported cash and cash equivalents amounting to $2.3 billion, a substantial increase from $38.1 million a year earlier. CEO Phong Le emphasized the company’s successful capital raise of $25.3 billion in 2025 to bolster its Bitcoin treasury strategy, which positioned it as the largest equity issuer among U.S. public companies for two consecutive years. Strategy now holds 713,502 bitcoins, with 41,002 acquired in January 2026 alone. Le also pointed out the growth of STRC, a flagship digital credit instrument, to $3.4 billion, which has benefited from increasing liquidity and a variable dividend rate mechanism aimed at stabilizing prices amid a fluctuating Bitcoin market.
Galaxy Digital (GLXY) followed suit, reporting a fourth-quarter loss of $1.08 per share on revenues of $10.37 billion, compared to analysts’ expectations of a 92-cent loss and $16.6 billion in revenue. Despite these setbacks, the company maintains a positive outlook on long-term growth across global markets. Analysts from Goldman Sachs and H.C. Wainwright responded by lowering their price targets for Galaxy to $24 and $40 respectively, citing current market conditions and upcoming catalysts as points of interest.
Meanwhile, IREN (IREN) posted a Q2 loss per share of 52 cents on revenues of $184.7 million, down from a 10-cent loss last year. The company’s cash and cash equivalents amounted to $2.8 billion as of January 31, signaling new capacity expansions and ongoing capital formation efforts. Following its report, Cantor Fitzgerald and B. Riley adjusted their price targets, indicating mixed market sentiment about IREN’s transition toward AI compute, which comes at the expense of its previous focus on Bitcoin mining.
CleanSpark (CLSK) also reported a disappointing first quarter, recording a loss of $1.35 per share against revenues of $181.2 million. CEO Matt Schultz noted the company’s strong balance sheet and expansion efforts in Houston, suggesting a long-term strategy focused on infrastructure and AI growth despite missing revenue estimates.
On another note, Bullish (BLSH) reported a Q4 loss of $3.73 with adjusted revenues of $92.5 million, which fell short of analyst projections. CEO Tom Farley highlighted a transformative phase for digital assets, even amid cyclical volatility.
Additionally, Mawson Infrastructure Group (MIGI) announced preliminary revenue of $3.2 million for Q4, down from $15.1 million year-over-year, while confirming settlements that relieve significant financial liabilities.
In a notable acquisition move, Bed Bath & Beyond (BBBY) agreed to acquire Tokens.com, aiming to create a comprehensive investment platform that integrates tokenized and traditional assets. This strategy is backed by existing blockchain ventures, positioning the company as a key player in the asset tokenization landscape.
On a regulatory front, Gemini Space Station (GEMI) unveiled plans to exit operations in the UK, EU, and Australia, citing a need to cut costs and focus on profitability. Analysts have responded with lowered ratings and price targets, reflecting ongoing challenges in the cryptocurrency trading environment.
Lastly, Bitfarms (BITF) revealed intentions to redomicile from Canada to the U.S., a strategic decision aimed at enhancing shareholder value and capital access. This move indicates a broader trend of cryptocurrency firms reassessing their operational footprints in light of evolving market dynamics.
Current data shows Bitcoin has seen a weekly decline of approximately 18%, trading at $68,182 according to CoinDesk. As the cryptocurrency market continues to navigate regulatory and economic shifts, these developments signal a period of transition and potential transformation for industry stakeholders.
