Bitcoin has continued its rally above $123,000, breaking that level on Friday and finishing week 39 up 10%—its best weekly performance of the year, according to CoinDesk market data.

Crypto stocks with exposure to Artificial Intelligence (AI) and High-Performance Computing (HPC) are outperforming peers that lack similar technology integration.

Cipher Mining (CIFR) rose 5% to $15.40, approaching new all-time highs, while BitDigital (BTBT) gained 3% to $3.61. Iris Energy (IREN) surged 5% to $53, also hitting record levels. CleanSpark (CLSK) climbed over 3% to $16.46, revisiting highs not seen since November 2024.

By contrast, BTC treasury-focused companies, which generally lack AI/HPC exposure, are underperforming. Metaplanet (3350) fell 5% on Monday to 591 yen, while MicroStrategy (MSTR) gained just 2% pre-market to $359.

Year-to-date performance shows a stark divergence: Iris Energy (IREN) is up 382%, Cipher Mining (CIFR) 205%, Metaplanet 74%, MicroStrategy (MSTR) 17%, and BitDigital (BTBT) 12%.

The disparity highlights investors’ growing preference for Bitcoin-exposed companies that leverage AI and HPC technologies, signaling a widening gap within the sector.