Cryptocurrencies like Bitcoin, and alt coins like Ethereum, are powered by the blockchain technology, which comprises complex cryptography and software that creates an immutable and decentralized database. The system offers enhanced security for users, as it maintains a tamper-resistant record of transactions and keeps track of the owner.
Blockchain’s safety and decentralization features have been among the major drivers behind the proliferation of cryptocurrencies. Positive industry developments like the repeal of an accounting rule by the U.S. Securities and Exchange Commission (“SEC”), and the agency’s decision to drop lawsuits against Coinbase COIN and Robinhood bode well for investors.
Cryptocurrencies have been benefiting from the liberal policies of U.S. President Donald Trump. An executive order by President Trump that directed a working group to study and propose changes to cryptocurrency regulations bodes well for crypto enthusiasts. His announcement of creating a crypto reserve, including Bitcoin, Ethereum, XRP, Solana and Cardano, augurs well for cryptocurrency miners, including BIT Mining Limited BTCM, Cipher Mining CIFR, and exchanges like COIN and CME Group CME.
The inherent volatility of cryptocurrencies makes them riskier bets. However, cryptocurrencies have shown remarkable resilience amid the ongoing sell-off in equities due to the growing risk of a U.S. recession post higher tariffs on trading partners, including China. Bitcoin is now trading above $92,000, much higher than the $76,000 it registered in early April. Over the past seven days, Bitcoin has increased 9.32%, whereas Ethereum, Solana, Cardano, Dogecoin, and XRP have surged 9.5%, 10.2%, 11.6%, 11% and 2.5%, respectively.
We believe that apart from cryptocurrency miners and exchanges, technology companies like IBM and Amazon AMZN, which are leveraging blockchain to drive growth, are noteworthy. NVIDIA NVDA, which offers GPUs to mine Bitcoin, is also an attractive choice. Our Cryptocurrencies & Blockchain Screen is an invaluable source for identifying Crypto and blockchain stocks with massive growth prospects.
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CME Group, the largest futures exchange in the world in terms of trading volume and notional value traded, is riding on record volume growth. In first-quarter 2025, the company reported a record average daily volume of 29.8 million contracts, up 13% over the figure reported in the year-ago quarter, driven by broad-based growth in every asset class. Commodity sector volumes grew 19% while financial products grew 12%.
CME’s investments in marketing and education of potential clients benefit prospects. This Zacks Rank #1 (Strong Buy) company expects to see strong volumes in 2025, driven by strong customer demand for efficient trading and hedging solutions. You can see the complete list of today’s Zacks #1 Rank stocks here.
Clearing and transaction fees contribute a major share to CME Group’s top line. Increasing clearing and transaction fees should continue to boost the top line. The company is witnessing growth in electronic trading volume and higher adoption of crypto assets with increased interest across the entire crypto economy.
CME Group plans to launch XRP futures on May 19, pending regulatory review. Market participants will have the choice to trade both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP).
BIT Mining Limited, a Zacks Rank #2 (Buy) company is a leading technology-driven cryptocurrency miner, data center operator and mining machine manufacturing. BIT Mining owns 7 nm BTC chips and holds strong capabilities in LTC/DOGE miner and ETC miner development. BIT Mining currently owns a fleet of over 28,000 mining machines across its BTC and LTC/DOGE operations.
In March 2025, BIT Mining produced a total of 41.55 Bitcoin (BTC), consisting of 34.96 BTC for hosted clients and 6.59 BTC self-mined. The company also mined approximately 2,383,708 Dogecoin (DOGE) and 651.6 Litecoin (LTC). The cost per BTC mined was approximately $65,831.
BIT Mining continues to expand its international footprint across Ohio and Ethiopia. In Ohio, BTCM maintains active operations with a power capacity of 82.5 MW, supporting both hosted clients and self-mining. In Ethiopia, BIT Mining is progressing with the buildout of its newly acquired crypto mining site. Ongoing construction on the remaining 16 MW is expected to bring total site capacity to 51 MW by May 2025.
Another Zacks Rank #2 stock, Cannan, offers crypto mining solutions through its proprietary ASICs. CAN provides a single line of Bitcoin mining machines, under the AvalonMiner brand, to customers in North America, West Asia, Southeast Asia, Europe, Africa, and other countries across the globe. Cannan’s current A15 series features computing power of 218-261 TH/s and 16.8-19 J/THs. In 2024, the company generated revenues of $32.5 million from the Bitcoin mining business while total revenues were $269.3 million.
Cannan offers positive guidance for 2025 with revenues expected between $900 million and $1.1 billion. The company’s expanding portfolio, with the upcoming launch of Avalon Q, Mini 3, and Nano series, is expected to boost home mining. CAN has declared the U.S. self-mining target of 10EH/s by mid-2025.
In March 2025, Cannan mined 90 bitcoins, up 9.8% compared with February. CAN expanded its mining operations in North America, adding 0.32 exahash per second (EH/s) of installed computing power in the reported month. The company owned 1,408 Bitcoins at the end of March in its balance sheet.
