Circle Internet Stock Is Up 68% in 2026: Is It Outperforming Other Crypto Stocks Like Strategy and Bitmine?

"Circle posted Q1 2026 EPS of $0.21, beating the consensus by 19%. Revenue came in at $694.13 million, slightly below the $714.88 million estimate but up 20% year over year. Furthermore, Circle's operational metrics were strong. Average USDC in circulation grew 39% year over year, USDC on-chain transaction volume reached $21.5 trillion (up 263%), and adjusted EBITDA rose 24% to $151 million at a 53% margin."

"A major catalyst was Circle's ARC Token presale, which raised $222 million at a $3 billion fully diluted valuation. Circle CEO Jeremy Allaire framed the quarter around "the rapid convergence of AI platforms and economic operating systems into a new internet stack," tying USDC's growth to the company's new Agent Stack and Arc network. The remarks reinforced Circle's positioning as infrastructure rather than a crypto-price proxy."

"The divergence in 2026 returns reflects fundamentally different business designs. Circle is essentially a fintech that earns interest on the reserves backing USDC, with $77 billion in circulation as of March 31. Revenue scales with stablecoin adoption rather than crypto prices. Strategy is the classic leveraged bitcoin treasury model, while other crypto equities follow different exposure patterns."

Circle Internet Group shares surged 16% to about $132 after Q1 2026 results were released before the open. The stock’s 2026 year-to-date gain reached roughly 68%, outpacing other crypto-equity peers. Circle reported Q1 2026 EPS of $0.21, 19% above consensus, and revenue of $694.13 million, slightly below estimates but up 20% year over year. Average USDC in circulation grew 39% year over year, USDC on-chain transaction volume reached $21.5 trillion, and adjusted EBITDA rose 24% to $151 million with a 53% margin. The ARC Token presale raised $222 million at a $3 billion fully diluted valuation, supporting the rally.

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