Crypto-related stocks including Galaxy Digital (GLXY), Circle Internet (CRCL) and Bitfarms (BITF) posted double-digit gains on Thursday as bitcoin (BTC) rose the highest since mid-August.

Galaxy, a digital asset investment and data center conglomerate led by Mike Novogratz, added 12%. The company was a lead investor in Forward Industries’ $1.65 billion fundraising closed today to build a Solana (SOL) treasury vehicle.

It might also be benefiting from rising appetite for data center plays, as big tech firms make billion-dollar artificial intelligence (AI) hosting contracts such as Microsoft’s deal with Nebius on Tuesday.

The same logic applies to bitcoin miner Bitfarms (BITF), which has set out to expand in high-performance computing and appointed Wayne Duso, a former executive of cloud service giant Amazon Web Services, to the board last month. The stock advanced another 18% today, extending gains to more than 60% this week.

For USDC stablecoin issuer Circle, Thursday’s 16% rally could be a technical rebound absent any clear news catalyst, breaking the downtrend that started in June and saw the stock decline roughly 60% from its post-IPO peak.

Crypto exchange Coinbase (COIN), digital trading platform Robinhood (HOOD) and bitcoin miners MARA Digital (MARA) and Riot Platforms (RIOT) also advanced.

The companies outpaced the broader equity markets, with the S&P 500 index recently up 0.82% and the Nasdaq 100 index 0.69% higher.

Meanwhile, bitcoin treasury vehicles Metaplanet (3355) and Nakamoto (NAKA) declined 10% and 14%, respectively. Strategy (MSTR), the largest corporate owner of BTC, was little changed.

The declines occurred even as bitcoin advanced toward $115,000, rebounding from an initial dip on rising CPI inflation and higher jobless claims reports in the early U.S. morning hours.

Read more: Strategy’s S&P 500 Snub Is a Cautionary Signal for Corporate Bitcoin Treasuries: JPMorgan