logo
Top Cryptocurrency Stocks to Buy Amid Regulatory Tailwinds

Top Cryptocurrency Stocks to Buy Amid Regulatory Tailwinds

Globe and Mail4 days ago
An updated edition of the June 9, 2025 article.
Cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, Dogecoin, XRP, Stablecoins and Altcoins are powered by blockchain technology, which comprises complex cryptography and software that creates an immutable and decentralized database. Blockchain's safety and decentralization features have been among the major drivers behind the proliferation of cryptocurrencies. The system offers enhanced security for users, as it maintains a tamper-resistant record of transactions and keeps track of the owner.
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 HOOD are noteworthy developments. The passing of the GENIUS Act on July 17 provides a legal background to stablecoins. Other pending regulations — The CLARITY Act and The Anti-CBDC Surveillance State Act — bode well for cryptocurrency enthusiasts.
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. President Trump's announcement of creating a crypto reserve augurs well for cryptocurrency miners, including IREN Limited IREN, Cipher Mining CIFR, and exchanges like Coinbase and CME Group CME.
Bitcoin, the most popular cryptocurrency, has been soaring due to increasing acceptance as a non-sovereign asset, as well as higher institutional and corporate adoption. However, volatility remains a headwind. Over the trailing 12 months, Bitcoin has traded between a low of $53,997.96 and a high of $119,963.30. Over the past seven days, Bitcoin has decreased 0.7%, whereas Ethereum, Solana, Cardano, Dogecoin, and XRP have surged 15.9%, 18%, 14.7%, 27% and 16.6%, respectively.
Apart from cryptocurrency miners and exchanges, Amazon AMZN and NVIDIA NVDA are attractive choices. Our Cryptocurrencies & Blockchain Screen is an invaluable source for identifying Crypto and blockchain stocks with massive growth prospects.
Explore 30 cutting-edge investment themes with Zacks Thematic Screens and uncover your next big opportunity.
3 Crypto & Blockchain Stocks to Buy Right Now
Robinhood benefits from higher retail participation in markets that is expected to drive trading revenues. This Zacks Rank #1 (Strong Buy) company's initiative to diversify its product base to acquire new clients and gain market share is noteworthy. You can see the complete list of today's Zacks #1 Rank stocks here.
Launch of tokenized stocks in the European Union (EU) in June, prediction markets hub (March 2025), options trading in the U.K., Futures market, Tax Lots feature for its investors, Robinhood Gold Card (March 2024) for its Robinhood Gold customers, thereby venturing into the credit card space, are noteworthy. In October 2024, HOOD launched Index Options and Robinhood Legend to focus on web traders. In November 2024, Robinhood added four cryptocurrencies to its platform, bringing the total number of cryptocurrencies available for trading to 19.
However, HOOD operates in a highly regulated industry, and hence it is exposed to regulatory risks, resulting in hefty fines and restrictions that may affect its profitability. Reportedly, the company is under investigation by Lithuania's central bank, its lead regulator in the European Union, regarding the newly launched tokenized equity products.
Cipher Mining is expected to benefit from expanding opportunities at Black Pearl and Barbara Lake and longer-term expansion in 2026 and 2027.
Black Pearl is the company's 300-megawatt data center in Wink, TX. Phase 1 is currently under construction and will feature 150 megawatts of air-cooled Bitcoin mining rigs. CIFR is evaluating options for the usage of the remaining 150 megawatts of capacity, including plans to build Phase 2 of the data center for Higher Performance Computing (HPC) hosting.
This Zacks Rank #2 (Buy) company has inked a partnership with Fortress to develop a next-generation data center at the Barber Lakes site, driven by available capacity of 300 megawatts and 587 acres of surrounding land, in addition to its already energized substation. Cipher Minning plans to expand the facility with an additional 500-megawatt data center adjacent to the current 300-megawatt site. The additional 500 megawatts of capacity are expected to come online by 2029.
The latest site acquisition in Andrews County, TX, called Stingray, adds 100 megawatts of front-of-the-meter capacity and 250 acres of land adjacent to the transmission assets. The site is expected to energize in the third quarter of 2026.
Another Zacks Rank #2 stock, IREN Limited, is one of the world's largest and lowest-cost Bitcoin miners, achieving 326% year-over-year hashrate growth in third-quarter fiscal 2025. IREN Limited achieved its 50 EH/s installed hashrate target in June. The company paused further expansion to prioritize continued build-out of AI verticals.
IREN is benefiting from growing Bitcoin mining revenues. In third-quarter fiscal 2025, Bitcoin Mining revenues jumped 24% year over year to $141.2 million. The momentum is expected to have continued in the fiscal fourth quarter. In April, May and June, IREN reported revenues of $50.1 million, $64.7 million and $65.5 million, respectively, aggregating to $180.3 million for fiscal fourth quarter.
The company mined 1,514 Bitcoins in third-quarter fiscal 2025 as compared with 1,347 in the previous quarter. IREN mined 579, 627 and 620 Bitcoins in April, May and June, respectively.
AI Cloud revenues are accelerating, which bodes well for IREN Limited. In third-quarter fiscal 2025, AI Cloud services revenues jumped 33% year over year to $3.6 million. The company is supplying white labelled compute to leading US AI cloud providers. In April, May and June, IREN reported revenues of $2 million, $2.2 million and $2.2 million, respectively.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
CME Group Inc. (CME): Free Stock Analysis Report
NVIDIA Corporation (NVDA): Free Stock Analysis Report
Coinbase Global, Inc. (COIN): Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
Cipher Mining Inc. (CIFR): Free Stock Analysis Report
IREN Limited (IREN): Free Stock Analysis Report
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Amber Kanwar's Weekly Setup: Big tests are coming for the markets
Amber Kanwar's Weekly Setup: Big tests are coming for the markets

Globe and Mail

timean hour ago

  • Globe and Mail

Amber Kanwar's Weekly Setup: Big tests are coming for the markets

My husband got taken down by a nasty summer bug but has reintegrated into the family. He stayed in the guest room to avoid infecting me and the kids. He passed his time watching TV and having meals delivered. I'm glad he is back in the fold, but I would be lying if I didn't admit there is a small part of me that thought about licking one of his spoons to get a few days alone in a quiet room. This is not the week to call in sick with huge catalysts on deck. Here are the five things to watch: Magnificent week: With the S&P 500 sitting atop a record high, the resilience of the Magnificent 7 (also at a record) will be the next test for the markets. Four of the seven companies report this week, including Meta Platforms Inc. META-Q, Microsoft Corp. MSFT-Q, Apple Inc. AAPL-Q and Inc. AMZN-Q They represent a combined US$14-trillion in value. The big question for all of them will be how much each company is spending on AI. Although for Apple, it will be more like, 'Have you heard of AI?' Apple is the second-worst-performing Mag7 after Tesla Inc. TSLA-Q, down about 14 per cent so far in 2025. The reason Apple is in the dog house is because it lacks a clear AI strategy, according to Needham senior analyst Laura Martin. She said 'calls to replace Tim Cook as Apple CEO are getting louder every quarter that Apple doesn't lay out a comprehensive GenAI strategy.' After Alphabet Inc. GOOGL-Q surprised investors with a US$85-billion spending plan, there is a good chance the others follow suit. Is it any wonder that Nvidia Corp. NVDA-Q is back at a record high and the best-performing Magnificent 7 in 2025? Decisions, decisions: If mega-cap earnings weren't enough, the Bank of Canada and U.S. Federal Reserve are delivering interest-rate announcements on Wednesday. The BoC is expected to keep rates on hold at 2.75 per cent for a third time in a row. Core inflation, which is hanging around 3 per cent, and the oddly robust jobs data from earlier this month make it an easy bet that the BoC will hold. It is also an easy bet that the Federal Reserve won't cut this month, although U.S. President Donald Trump may think otherwise after meeting with Fed Chair Jerome Powell this week on a tour of the central bank's renovations. Mr. Trump said Mr. Powell congratulated him on a strong economy, which he took to mean that rate cuts are coming. Watch for dissenters on the decision; those are the ones auditioning for Mr. Powell's job when his term expires next year. Hold your breath: In the past three months, UnitedHealth Group Inc. UNH-N has slashed its profit forecast, announced that its CEO is leaving, then suspended its profit forecast altogether and endured a 50-per-cent drop in the value of its shares. And just last week, it confirmed that it is the subject of a Department of Justice investigation into its Medicare practices. Talk about a season to forget. The embattled health insurer is set to report quarterly results Tuesday morning as its stock languishes at the lowest level in five years. However, that now means it sports a low-teens multiple. Before you let that lure you in, like yours truly, value investor Michael McCloskey, founder and president of GreensKeeper Asset Management, said on my podcast this week that this has the markings of a value trap. 'When you see the suggestion that maybe they're playing games with Medicare, it's the cockroach theory,' he said. 'I might be totally wrong, but when I see that, I tend to stay away.' Flying close to the sun: Bombardier Inc. BBD-B-T reports this week and talk about a comeback story. The stock is up 1,400 per cent over the past five years compared with just 100 per cent for the TSX over that time. It went from a universally unloved stock with high debt levels to a Bay Street favourite with a new investment-grade debt rating. Its transformation into a business-jet company has paid off big time. But some analysts say the setup from here gets harder. TD Cowen analyst Tim James downgraded the stock last week on the runup and says it has a bad habit of falling on earnings days regardless of the results. '[The] recent share-price strength may heighten Q2 hurdle for driving further short-term upside,' said Mr. James in a note downgrading the stock from buy to hold. Hot commodity: MEG Energy Corp. MEG-T reports results Thursday after the close. The energy producer is subject to a hostile bid from Strathcona but reports last week suggest Cenovus is preparing a rival bid. The company will likely be tight lipped about what it can say, but analysts and investors may pry to see where the companies are in the process and how many other bidders have kicked the tires. In the Money with Amber Kanwar brings you actionable insights from top portfolio managers and business leaders. New episodes out Tuesdays and Thursdays. Subscribe now!

Oil prices caught between a $70 summer and growing surplus fears
Oil prices caught between a $70 summer and growing surplus fears

Calgary Herald

time2 hours ago

  • Calgary Herald

Oil prices caught between a $70 summer and growing surplus fears

Article content (Bloomberg) — Oil traders are grappling with a tension — there's a growing chorus of warnings about the market weakening later this year and into 2026, but for now prices are holding strong near $70 a barrel. Article content France's TotalEnergies SE last week warned the market is facing abundant supply as the OPEC+ group unwinds output curbs, even as slowing global growth weighs on demand. Norway's Equinor ASA said its new Johan Castberg field is operating at full pelt, with a Brazilian offshore asset starting soon, a reminder of additional barrels expected from outside the producer group. Article content Article content Article content Both the International Energy Agency and the US Energy Information Administration earlier this month bolstered their estimates for the surplus they see next year. The two widely-followed forecasters expect supply to eclipse demand by the most since the pandemic, with the IEA's projection at 2 million barrels a day. Article content Article content A surplus that pushes prices lower will help tame inflation, hurt high-cost producers and likely please US President Donald Trump who has called for lower prices since taking office. Article content It's a stark contrast with the here and now, where inventories at key storage hubs remain low, reflected in a bullish market structure that indicates tight supplies. Profits from turning crude into fuels are also far above seasonal norms, underpinning demand for crude. 'One of the issues that has been supporting oil has been the seasonal strength of the summer months,' Francisco Blanch, head of commodities and derivatives research at Bank of America Corp. said in a Bloomberg TV interview. 'Second half of the year the surplus is going to be close to 200 million barrels,' which will ultimately weigh on prices, he added. Article content Article content While most of the IEA's revision of next year's outlook centered on output additions by the Organization of the Petroleum Exporting Countries and its allies, who will meet to discuss output levels in early August, there were also some less obvious drivers. Forecasts for the supply of biofuels, which compete with conventional oil, are about 200,000 barrels a day higher than two months ago in the agency's estimates. Article content The US government now sees global oil supplies about 2.1 million barrels a day higher in the fourth quarter of this year than the first, the biggest increase it has seen over the period since February. The two bodies' forecasts constitute an important element in traders' evaluations of how the market will unfold. Article content For now, signs of robust demand remain. Article content Leading oil trader Vitol Group said last week that jet fuel demand has been steadily climbing, with flight numbers reaching all-time highs. US weekly oil-demand figures are the highest this year. That data has been revised higher in final monthly readings for four of the last five periods where complete figures are available.

Better Quantum Computing Stock: IonQ vs. Rigetti Computing
Better Quantum Computing Stock: IonQ vs. Rigetti Computing

Globe and Mail

time2 hours ago

  • Globe and Mail

Better Quantum Computing Stock: IonQ vs. Rigetti Computing

Key Points IonQ and Rigetti Computing have developed fundamentally different methods to create quantum computers. IonQ aspires to build the internet of the future while Rigetti focuses on commercializing its superconducting qubit technology. Neither IonQ nor Rigetti are profitable, although they have amassed large sums of cash to fund their operations. 10 stocks we like better than IonQ › The quantum computing industry is a promising area to invest in. Quantum machines can complete complex calculations in minutes that would take classical computers centuries, thanks to the power of quantum mechanics. In the sector, IonQ (NYSE: IONQ) and Rigetti Computing (NASDAQ: RGTI) are among the prominent players. IonQ uses ions to power its quantum machines while Rigetti employs the traditional superconducting qubits process. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Both have seen impressive share price increases over the past year. IonQ stock is up over 400% through July 23 while Rigetti climbed more than 1,000% in that time. Is one a better investment in the nascent quantum computing field? Examining these businesses in more detail can help to arrive at an answer. Rigetti Computing's tried-and-true tech Rigetti uses a proven method of producing qubits. Qubits are a quantum device's equivalent to a classical computer's bit. But while bits represent a zero or one, the properties of quantum mechanics mean qubits can be both at the same time, enabling orders of magnitude faster processing speeds. Superconducting qubits offer several advantages. They can be manufactured using existing semiconductor chip processes, and can complete calculations faster than ion-based quantum machines. Rigetti hopes to gain greater commercialization with the latest version of its quantum computer, the Ankaa-3 system, which launched at the end of 2024. However, the technology isn't cheap. Superconducting qubits require special cryogenic equipment to keep temperatures colder than outer space. This is necessary for qubits to maintain stability long enough to perform calculations before they break down. As a result, the company exited the first quarter with an operating loss of $21.6 million on sales of $1.5 million. The loss is 30% greater than the previous year while Q1 revenue plunged 52% year over year. This combination of falling revenue and rising costs is unsustainable over the long run. That's why Rigetti executed a $350 million equity offering that helped it build up a stockpile of $575 million in cash, cash equivalents, and investments with no debt as of June 11. This cash hoard should sustain the company's operations in the short term, but it will need to produce revenue growth to build a sustainable business. IonQ's lofty ambition to remake the internet IonQ's ion-based method holds several advantages over superconducting qubits. Its tech can operate at room temperature, eschewing the need for cryogenic equipment. The technology also offers low error correction rates. Because qubits quickly break down, quantum computers are prone to calculation mistakes that limit their ability to scale. IonQ's reduced error rates make scalability a possibility. Consequently, the company aims to construct a quantum computing network, reminiscent of the infrastructure that underpins today's world wide web. It pursued several acquisitions to achieve its goal of building "the next generation of the internet," in the words of IonQ Chairman Peter Chapman. But like Rigetti, IonQ's costs are rising. It posted a Q1 operating loss of $75.7 million, an increase from 2024's $52.9 million, on revenue of $7.6 million. So it, too, is pursuing an equity offering to the tune of $1 billion. In addition, IonQ believes it can hit revenue of $75 million to $95 million in 2025. This would be a strong increase over 2024, when sales soared 95% year over year to $43.1 million. Making the choice between IonQ and Rigetti Computing stock Although Rigetti's superconducting qubits technology is well established in the quantum computing industry, IonQ's approach is producing higher sales. On top of that, another factor to consider is share price valuation. This can be assessed using the price-to-sales (P/S) ratio, a metric commonly used when companies are not profitable. Data by YCharts. The chart reveals Rigetti's P/S multiple has skyrocketed from where it was a year ago, and is far higher than IonQ's as well. This suggests Rigetti stock is overpriced, making IonQ the better value. That said, IonQ stock is not cheap, given it has a P/S ratio exceeding 200. While quantum computers hold the promise of revolutionizing the computing industry, whether IonQ or Rigetti's approach will win out in the end is far from certain. After all, quantum computing is still in its infancy. Its market size was just $4 billion in 2024, although industry estimates predict rapid growth to $72 billion by 2035. As of now, IonQ's 2024 sales success coupled with an outlook of 2025 revenue growth, and a far better valuation compared to Rigetti, make its stock the superior quantum computing investment between these two businesses. Ideally, wait for a dip in IonQ's share price, and for its Q2 results to validate it's on a trajectory to hit 2025 sales targets before deciding to pick up shares. Should you invest $1,000 in IonQ right now? Before you buy stock in IonQ, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store