Crypto stocks are making a comeback—and it’s not just hype this time. BitMine is loading up on Ethereum while quietly placing bets on AI and the creator economy, Circle is up 150% as stablecoins turn into a cash-flow machine, and Bakkt is attempting a full-on comeback with a new strategy. Three companies, three very different ways to play the future of money. Let’s break down who’s actually building—and who’s still figuring it out.