Circle Stock Surges as Stablecoins Expand; Canaan Increases Bitcoin Reserves

Shares of Circle have more than doubled since early February and are up roughly 49% year-to-date, outpacing the S&P 500 and Nasdaq 100. Bernstein reiterated an 'Outperform' rating and set a $190 price target, about 60% above current levels, citing accelerating stablecoin adoption across payments, financial infrastructure and onchain settlement.

USDC circulation stands at nearly $79 billion as stablecoins move beyond trading into mainstream finance. Aon is piloting stablecoin payments with Coinbase and Paxos to speed cross-border premium settlements and reduce costs for insurers and clients. Bitcoin miner Canaan mined 86 BTC in February, bringing its holdings to 1,793 BTC and its Ether reserves to 3,952 ETH, pushing total crypto reserves to record levels.

The company is expanding its mining footprint, including operations in Texas, even as many peers have trimmed Bitcoin treasuries amid tighter margins.

United States, Texas

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