We recently published a list of Why These 15 Crypto Stocks Have Been Plunging In 2025. In this article, we are going to take a look at where Ebang International Holdings Cl A (NASDAQ:EBON) stands against other crypto stocks that have been plunging In 2025.
Crypto stocks have fallen significantly off their peaks as Bitcoin (BTC-USD) cools. Many crypto investors hoped that Trump’s crypto national reserve announcement would be followed up by news announcing that the U.S. government will start buying BTC like El Salvador did to prop up these reserves.
Instead, the government will likely create the reserve out of previously seized cryptocurrencies from criminals. This led to Bitcoin falling even further. The biggest impact of this was on Bitcoin miners. These companies make a significant amount of their revenue from mining or stockpiling large amounts of Bitcoin and then benefiting from the increases in value as it also increases their assets on the balance sheet.
However, with Bitcoin cooling off recently and crypto mining companies not having that big of a spike in the current cycle, many have started to plunge significantly.
Methodology
For this article, I screened the worst-performing crypto-related stocks year-to-date.
I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A technician at a sophisticated computer hardware rig, emphasizing the company’s chip-manufacturing capabilities.
Ebang International Holdings Cl A (NASDAQ:EBON)
Number of Hedge Fund Holders In Q4 2024: 2
Ebang International Holdings Cl A (NASDAQ:EBON) is a company that sells Bitcoin mining machines and also makes blockchain-related financial services.
The stock is down significantly so far in 2025 as its revenue has been declining, and the company has failed to benefit from the increase in Bitcoin’s price in a meaningful way. Revenue declined 48.3% for the quarter that ended in June 2024 to $1.06 million.
On the other hand, net losses were at $3.11 million. The stock has also declined even more since Bitcoin has reversed course, and there doesn’t seem to be accelerating orders for Bitcoin mining machines as crypto miners have started to focus on AI and high-performance computing hardware instead.
EBON stock is down 20.98% year-to-date.
Overall, EBON ranks 8th on our list of crypto stocks that have been plunging In 2025. While we acknowledge the potential of EBON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EBON but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
