To The Moon

$Bitcoin(BTC.USD.CC)$ price hit US$122K this week, bitcoin-related stocks soared up to 65%*( as of July 16th 2025).

As of July 16th

As of July 16th

1. UNITED STATES – Mining & Monetization(YTD 2025 data as of July 17th)

• $IREN Ltd(IREN)$ +83.81% to $18.5. The Nevada-based miner reported record Q2 hash-rate deployment and guided to a 25 EH/s run-rate by December, convincing the Street that margin expansion can outrun the halving.

• $Coinbase Global, Inc.(COIN)$ +65.42% to $410.75. Not only did spot volumes triple week-over-week, but options desks note aggressive call buying in the US$300–US$350 strike range expiring next month.

• $Strategy(MSTR)$ +55.84% to $451.34 The company’s “Bitcoin treasury” now sits at 264,000 BTC; every US$1,000 move in BTC adds ~US$1.30 to pro-forma NAV, according to J.P. Morgan.

• $CleanSpark, Inc.(CLSK)$ +40.93% to $12.98, the biggest U.S. gainer. CLSK energised an additional 50 MW in Georgia ahead of schedule, pushing gross mining margin above 70%.

• $Riot Platforms(RIOT)$ +30.56% to $13.33. Analysts at Benchmark lifted their price target to US$22, citing “best-in-class” power hedging that should insulate cash flows even if hash-price mean-reverts.

2. HONG KONG – Exchanges, Custody & Gaming(YTD 2025 data as of July 17th)

• $OKG TECH(01499)$+231.33% to HK$0.55. The firm quietly rolled out a lightning-fast KYC flow last month; downloads of its retail app have since tripled.

• $SINOHOPE TECH(01611)$ +176.19% to HK$5.22. As Asia’s largest qualified custodian for institutions, the company is fielding “inbound RFQs from sovereign funds” according to a source close to the board.

• $OSL GROUP(00863)$+126.75% to HK$18.14. Hong Kong’s only licensed exchange for professional investors saw ADV (average daily volume) surge to US$320 million—triple the trailing 90-day norm.

• $BOYAA(00434)$ +103.71% to HK$8.78. The online-games operator surprised markets by announcing a pilot poker platform denominated in BTC, scheduled for beta in Q3.

What’s next?

With the U.S. election cycle in full swing and ETF inflows re-accelerating, traders are debating whether BTC can tag US$150k before year-end. Options skew remains bullish through March-25, while short-dated implied vol has spiked to 90%—levels last seen during the FTX collapse but now driven by demand rather than panic.

For the equities above, the playbook is simple: as long as Bitcoin stays north of US$100k, miners mint cash and exchanges mint volumes. Any sustained dip below that line, however, and the same leverage that turbo-charged this week’s gains could unwind just as violently.

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