Here are 5 stocks with significant exposure to crypto! Are you better off investing in them instead of trading currencies yourself?

Stocks with significant exposure to crypto might be worth considering if you want exposure to cryptocurrencies, but without the troubles that come with investing in the raw currency, such as volatility and the question of storage.

Stocks Down Under recaps 5 companies with exposure to crypto and then discusses whether the better choice for investors is investing companies like them or investing in the raw currency.

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5 stocks with significant exposure to crypto

Strategy Inc. (NDQ: MSTR)

This company, founded in 1989 and listed in 1998, was originally an enterprise analytics software company. Since 2020, it has been an agressive buyer of crypto and it is now effectively a Bitcoin holding vehicle with a software side-business attached. It behaves like a leveraged Bitcoin ETF in that it holds bitcoin as its primary asset and regularly issues debt or equity to buy more.

The irony is that MSTR has typically outperformed bitcoin whenever it rises due to leverage and market enthusiasm. But this works both ways…it declines more than bitcoin usually does, and it is sensitive to interest rates too. And of course, there is a lot of dilution to fund bitcoin purchases. The software side has not disappeared entirely, but its name change from MicroStrategy to Strategy showed no illusions as to where its focus is.

Marathon Digital (NDQ:MARA)

Marathon Digital is one of the leading Bitcoin mining companies in North America. Originally focused on digital infrastructure, over time, it transitioned into a major BTC miner.

Have you ever heard of the “Picks and shovels” strategy? It is where one invests in the companies that supply the tools and services for a booming industry, rather than in the companies producing the final product. This is what you’re getting with Marathon Digital, although it has some bitcoin on its balance sheet.

Riot Platforms (NDQ:RIOT)

Riot started as “Bioptix,” a biotech company but pivoted entirely to crypto in 2017 and its name was changed to Riot Blockchain, then to Riot Platforms. It is a vertically integrated Bitcoin miner: owning mining operations, infrastructure, and electrical engineering capabilities.

The company generates power credits by participating in grid demand-response programs (ERCOT) being on example, helping reduce net costs. But part of its long-term strategy is to retain some of the BTC it mines rather than sell everything immediately.

CleanSpark (NDQ:CLSK)

CleanSpark started as a technology company focused on energy software and microgrid solutions. Over time, it expanded aggressively into Bitcoin mining, building a vertically integrated footprint as well as its own bitcoin treasury. It integrates energy-management technology to optimise its mining operations, improving cost efficiency

Coinbase (COIN)

Here’s one cryptocurrency player that many Australian investors will know. Founded in 2012, Coinbase was (and is) of the first major U.S. crypto exchanges; initially focused on allowing users to buy/sell Bitcoin via bank transfers. Most of its revenues come from trading fees, custody, staking, and other crypto services.

As with the stocks mentioned above, it has some exposure on its balance sheet. It has come under scruitany in recent years, being sued by the SEC in 2023 for allegedly operating as an unregistered broker, but the case was dismissed in 2025. With crypto not going anywhere, Coinbase continues to expand its institutional offerings, custody business, and geographic reach.

So how does investing in crypto stocks compare to investing in cryptocurrencies themselves?

If you want assets that will move in line with crypto, then investing in crypto is a no brainer given there are many other things that influence stocks. There’s little to no management or balance sheet risk with bitcoin. The irony is that some can be even more volatile than bitcoin, particularly MicroStrategy as we noted above.

Equities add exposure to the balance sheet, management decisions, financing, dilution, the regulatory environment, the cost of capital, operational risks, competition and equity market cycles. Of all these, regulatory risk is probably the biggest contrast because crypto has little regulatory baggage, given it is held directly by investors and is hard to ban or restrict.

Historically, cryptocurrencies were harder to invest in than equities given you had to often store it. But this is changing with online crypto brokers. Combined with the 24/7 nature of the crypto trading cycle, you could argue it is easier to trade crypto now.

So what is the better choice? Crypto or crypto stocks?

Well, it depends. But to make a long story short, it is better for long-term investors who believe in crypto’s future and want clean upside. Meanwhile, you should consider equities with exposure to cryptocurrencies a better choice if you prefer exposure to the picks and shovels of the industry as well as the familiarity of investing in equities.