1. BYD shares Q4 results, Tesla sentiment improves

BYD (OTC Pink:BYDDF,SZSE:002594), China’s top car brand, reported its fourth quarter results on Monday, with net profits totaling 15 billion yuan (US$2.1 billion), a 73.1 percent increase compared to the previous year, and revenue growth of 52.7 percent to 274.85 billion yuan (US$37.89 billion) for the same period.

Looking ahead, BYD expects to ship up to 5.5 million vehicles in 2025.

The company also said this week that 500 of the approximately 4,000 super-fast charging stations needed to support its electric vehicle (EV) infrastructure in China will be ready by April.

These projections from BYD come as rival EV maker Tesla staged a partial comeback this week after suffering a roughly 25 percent decline in its share price earlier this month.

Investor sentiment may have been lifted by analysis from CFRA Research analyst Garrett Nelson, who said Tesla is the “least exposed” to Trump’s sweeping 25 percent automobile tariffs, announced on Wednesday (March 26).

According to Nelson, Tesla, which builds its cars in the US, stands to benefit from a projected reduction in consumer choices coupled with an increase in the prices of foreign-made vehicles.

“There are very few winners,” Sam Fiorani, vice president of global vehicle forecasting for AutoForecast Solutions, said in an interview with Bloomberg. “Consumers will be losers because they will have reduced choice and higher prices.”

Analysts are projecting that Trump’s auto tariffs could severely impact the economy.

“I think yesterday’s [tariff announcement on automobiles] is a bigger deal than the market is making it out to be,’ Ajay Rajadhyaksha, global chairman of research at Barclays, told CNBC on Thursday (March 27). ‘I think it reduces the risk that April 2 is something that markets can dismiss,’ he added. ‘I think we will be negatively surprised.’

2. Big Tech companies make AI advances

This week also saw significant advancements in artificial intelligence (AI) image generation and reasoning with the introduction of enhanced product offerings from some of Big Tech’s most prominent players.

OpenAI released 4o Image Generation to replace DALL-E 3 as the default image generation model for ChatGPT.

According to the company, the model can generate more realistic images than older image-generating models, as well as create lengthy, detailed, and precise text strings within images.

Meanwhile, Microsoft unveiled ‘deep reasoning agents’ for 365 Copilot, powered by OpenAI’s o1 and o3-mini models, featuring ‘agent flow’ for enhanced reliability. Elsewhere, Google’s (NASDAQ:GOOGL) DeepMind introduced Gemini 2.5 Pro, which it claims has superior reasoning capabilities over older iterations and competing models

3. CoreWeave downsizes IPO

CoreWeave’s initial public offering (IPO) journey concluded on Friday, following significant market scrutiny.

The company initially filed for a New York IPO on March 3, targeting a US$4 billion raise and a valuation exceeding US$35 billion. Its filings revealed US$1.9 billion in 2024 revenue but also substantial debt and escalating net losses, reaching US$863 million. This expansion was fueled by US$14.5 billion in debt and equity financing.

On March 20, CoreWeave announced the launch of its IPO, registering 49 million Class A shares with a projected price range of US$47 to US$55. The company was aiming to raise up to US$2.7 billion in an offering led by Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS), with 11 other advisers participating. Analysts at CNBC projected the deal would value CoreWeave at US$26.5 billion, although that figure could go as high as US$32 billion.

However, the company opted to decrease the size and price of its IPO, setting levels at US$40 per share for 37,500,000 shares, resulting in a valuation of approximately US$23 billion.

CoreWeave’s lower IPO was due to a confluence of factors that dampened investor enthusiasm, including market conditions and financial concerns. A confidential investor survey reported by the Information found that 90 percent of respondents do not consider CoreWeave a favorable long-term investment.

“One respondent summed up a broader perception about CoreWeave: ‘It’s radioactive, and I think every investor knows that,’” market analyst Cory Weinberg wrote.

4. OpenAI revenue and funding rumors circulate

It was a big week for OpenAI, marked by reports on its expansion and projected financial growth.

According to a Wednesday report from the Information, OpenAI is exploring the construction of its first data center, which would be located in Texas near the Stargate data center site.

Concurrently, Bloomberg cited an anonymous source projecting OpenAI’s revenue to potentially triple to US$12.7 billion this year and reach $29.4 billion in 2026, driven by its paid software plans. Additionally, reports surfaced of a record-breaking funding round worth US$40 billion led by Stargate co-contributor SoftBank Group (TSE:9984). The deal is reportedly near completion and would double OpenAI’s valuation, bringing it near US$300 billion.

These developments emphasize OpenAI’s position as a dominant force in the AI landscape

5. Microsoft reportedly cuts data center plans

Shares of Microsoft closed down on Wednesday after an analyst note from TD Cowen alleged that the tech conglomerate had abandoned plans for new data centers in the US and Europe, citing potential oversupply.

According to Bloomberg, Google and Meta have taken over some of the affected leases, although neither company has responded publicly to the note. In a statement from Microsoft obtained by the publication, the company said “significant investments” have left it “well positioned to meet our current and increasing customer demand.”

“While we may strategically pace or adjust our infrastructure in some areas, we will continue to grow strongly in all regions,” the spokesperson said. “This allows us to invest and allocate resources to growth areas for our future.”

1. BYD shares Q4 results, Tesla sentiment improves

BYD (OTC Pink:BYDDF,SZSE:002594), China’s top car brand, reported its fourth quarter results on Monday, with net profits totaling 15 billion yuan (US$2.1 billion), a 73.1 percent increase compared to the previous year, and revenue growth of 52.7 percent to 274.85 billion yuan (US$37.89 billion) for the same period.

Looking ahead, BYD expects to ship up to 5.5 million vehicles in 2025.

The company also said this week that 500 of the approximately 4,000 super-fast charging stations needed to support its electric vehicle (EV) infrastructure in China will be ready by April.

These projections from BYD come as rival EV maker Tesla staged a partial comeback this week after suffering a roughly 25 percent decline in its share price earlier this month.

Investor sentiment may have been lifted by analysis from CFRA Research analyst Garrett Nelson, who said Tesla is the “least exposed” to Trump’s sweeping 25 percent automobile tariffs, announced on Wednesday (March 26).

According to Nelson, Tesla, which builds its cars in the US, stands to benefit from a projected reduction in consumer choices coupled with an increase in the prices of foreign-made vehicles.

“There are very few winners,” Sam Fiorani, vice president of global vehicle forecasting for AutoForecast Solutions, said in an interview with Bloomberg. “Consumers will be losers because they will have reduced choice and higher prices.”

Analysts are projecting that Trump’s auto tariffs could severely impact the economy.

“I think yesterday’s [tariff announcement on automobiles] is a bigger deal than the market is making it out to be,’ Ajay Rajadhyaksha, global chairman of research at Barclays, told CNBC on Thursday (March 27). ‘I think it reduces the risk that April 2 is something that markets can dismiss,’ he added. ‘I think we will be negatively surprised.’

2. Big Tech companies make AI advances

This week also saw significant advancements in artificial intelligence (AI) image generation and reasoning with the introduction of enhanced product offerings from some of Big Tech’s most prominent players.

OpenAI released 4o Image Generation to replace DALL-E 3 as the default image generation model for ChatGPT.

According to the company, the model can generate more realistic images than older image-generating models, as well as create lengthy, detailed, and precise text strings within images.

Meanwhile, Microsoft unveiled ‘deep reasoning agents’ for 365 Copilot, powered by OpenAI’s o1 and o3-mini models, featuring ‘agent flow’ for enhanced reliability. Elsewhere, Google’s (NASDAQ:GOOGL) DeepMind introduced Gemini 2.5 Pro, which it claims has superior reasoning capabilities over older iterations and competing models

3. CoreWeave downsizes IPO

CoreWeave’s initial public offering (IPO) journey concluded on Friday, following significant market scrutiny.

The company initially filed for a New York IPO on March 3, targeting a US$4 billion raise and a valuation exceeding US$35 billion. Its filings revealed US$1.9 billion in 2024 revenue but also substantial debt and escalating net losses, reaching US$863 million. This expansion was fueled by US$14.5 billion in debt and equity financing.

On March 20, CoreWeave announced the launch of its IPO, registering 49 million Class A shares with a projected price range of US$47 to US$55. The company was aiming to raise up to US$2.7 billion in an offering led by Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS), with 11 other advisers participating. Analysts at CNBC projected the deal would value CoreWeave at US$26.5 billion, although that figure could go as high as US$32 billion.

However, the company opted to decrease the size and price of its IPO, setting levels at US$40 per share for 37,500,000 shares, resulting in a valuation of approximately US$23 billion.

CoreWeave’s lower IPO was due to a confluence of factors that dampened investor enthusiasm, including market conditions and financial concerns. A confidential investor survey reported by the Information found that 90 percent of respondents do not consider CoreWeave a favorable long-term investment.

“One respondent summed up a broader perception about CoreWeave: ‘It’s radioactive, and I think every investor knows that,’” market analyst Cory Weinberg wrote.

4. OpenAI revenue and funding rumors circulate

It was a big week for OpenAI, marked by reports on its expansion and projected financial growth.

According to a Wednesday report from the Information, OpenAI is exploring the construction of its first data center, which would be located in Texas near the Stargate data center site.

Concurrently, Bloomberg cited an anonymous source projecting OpenAI’s revenue to potentially triple to US$12.7 billion this year and reach $29.4 billion in 2026, driven by its paid software plans. Additionally, reports surfaced of a record-breaking funding round worth US$40 billion led by Stargate co-contributor SoftBank Group (TSE:9984). The deal is reportedly near completion and would double OpenAI’s valuation, bringing it near US$300 billion.

These developments emphasize OpenAI’s position as a dominant force in the AI landscape

5. Microsoft reportedly cuts data center plans

Shares of Microsoft closed down on Wednesday after an analyst note from TD Cowen alleged that the tech conglomerate had abandoned plans for new data centers in the US and Europe, citing potential oversupply.

According to Bloomberg, Google and Meta have taken over some of the affected leases, although neither company has responded publicly to the note. In a statement from Microsoft obtained by the publication, the company said “significant investments” have left it “well positioned to meet our current and increasing customer demand.”

“While we may strategically pace or adjust our infrastructure in some areas, we will continue to grow strongly in all regions,” the spokesperson said. “This allows us to invest and allocate resources to growth areas for our future.”

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$83,780.06, a 3.7 percent decrease over the past 24 hours. The day’s trading range has seen a low of US$83,609.35 and a high of US$85,503.88.

Bitcoin performance, March 28, 2025.

Chart via TradingView.

Deribit’s US$16 billion Bitcoin options expiry on Friday had US$75,000 max pain, down from the projected US$85,000, and a 0.58 put/call ratio. There was a high amount of call option open interest at the US$100,000 strike price.

Bitcoin’s subsequent decline indicates post-expiry market adjustments.

Ethereum (ETH) is priced at US$1,875.25, a 6.4 percent decrease over 24 hours. The cryptocurrency reached an intraday low of US$1,866.54 and a high of US$1,900.19.

Altcoin price update

• Solana (SOL) is currently valued at US$129.44, down 6.9 percent over the past 24 hours. SOL experienced a low of US$129.17 and a high of US$131.56 on Friday.

• XRP is trading at US$2.18, reflecting a 6.9 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.16 and a high of US$2.22.

• Sui (SUI) is priced at US$2.49, showing a 9.7 percent decrease over the past 24 hours. It achieved a daily low of US$2.49 and a high of US$2.56.

• Cardano (ADA) is trading at US$0.6961, reflecting a 5.2 percent decrease over the past 24 hours. Its lowest price on Friday was US$0.66925, with a high of US$0.7031.

Crypto news to know

SEC onboards Musk’s DOGE team members

Reuters reported that the US Securities and Exchange Commission (SEC) has begun onboarding members from Elon Musk’s Department of Government Efficiency (DOGE) team.

“Our intent will be to partner with the DOGE representatives and cooperate with their request following normal processes for ethics requirements, IT security or system training, and establishing their need to know before granting access to restricted systems and data,” said an email to SEC staff, according to Reuters.

Atkins questioned at Senate confirmation hearing

SEC nominee Paul Atkins testified before the Senate Banking Committee on Thursday (March 27).

During the hearing, he was questioned by Senate lawmakers regarding the sale of his consulting firm, Patomak Global Partners, which advised bankrupt cryptocurrency exchange FTX.

“Your clients pay you north of US$1,200 an hour for advice on how to influence regulators like the SEC, and if you’re confirmed, you will be in a prime spot to deliver for all those clients who’ve been paying you millions of dollars for years,” said Senator Elizabeth Warren during the hearing. She also requested that he disclose the firms potential buyers, whom she suggested may “buying access to the future chair of the SEC.’

Atkins said he will abide by the process of government ethics, but did not directly answer Warren’s question.

Senator John Kennedy also grilled Atkins about whether he will pursue the parents of FTX founder Sam Bankman-Fried, who Kennedy alleges may have been involved in and profited from his business affairs. Kennedy said if his position with the SEC is confirmed, he would “pounce on you like a ninja” to investigate the matter further.

UAE set to launch Digital Dirham CBDC

The United Arab Emirates is moving forward with its central bank digital currency (CBDC) plans, announcing that the Digital Dirham will be launched for retail use by the last quarter of 2025, the Khaleej Times reported.

The Central Bank of the United Arab Emirates has developed an integrated Digital Dirham platform that will support retail, wholesale and cross-border transactions.

The CBDC will be accessible through licensed financial institutions, including banks, fintech firms and exchange houses, and will be accepted alongside physical cash across all payment channels.

This initiative follows the United Arab Emirates’ efforts to regulate stablecoins and aligns with global trends, as countries like China, Russia and Sweden also push forward with CBDC pilot programs.

The United Arab Emirates’ Digital Dirham is expected to enhance financial security, streamline transactions and provide regulatory oversight beyond what private stablecoins can offer.

UK regulator plans to enforce stricter crypto authorization regime

The UK’s Financial Conduct Authority (FCA) announced that it will introduce a new authorization framework for crypto firms in 2026, significantly increasing regulatory scrutiny in the sector.

Under the proposed ‘gateway regime,’ crypto companies, including major exchanges such as Coinbase and Gemini, will need to obtain authorization to operate beyond existing anti-money laundering (AML) requirements.

The FCA has been tightening its oversight, with only 50 out of 368 applicants successfully registering under its AML framework since 2020. Upcoming consultations will define which crypto activities require authorization, with a focus on stablecoins, trading platforms and staking services.

Industry participants have just over a year to prepare for these stricter compliance measures, which are expected to reshape the regulatory landscape for digital assets in the UK.

BlackRock expands Bitcoin ETP to Europe

BlackRock has launched its iShares Bitcoin exchange-traded product (ETP) in Europe, making it available on major exchanges like Xetra, Euronext Amsterdam and Euronext Paris.

This expansion is a significant milestone for institutional Bitcoin adoption in the region, following the success of BlackRock’s US-based iShares Bitcoin Trust ETF, which has accumulated over US$49 billion in assets.

However, analysts believe that demand for the European ETP will be more muted, citing differences in market structure, investor appetite and regulatory clarity.

While Bitcoin exchange-traded funds (ETFs) in the US have benefited from deep institutional participation, the European market is still developing. Experts suggest that BlackRock’s entry into Europe could encourage further institutional involvement, but widespread adoption may take time as regulatory frameworks evolve.

Nasdaq files to list Grayscale’s spot Avalanche ETF

Nasdaq is seeking permission from the SEC to list Grayscale Investments’ spot Avalanche ETF. The proposed AVAX ETF would be a conversion of Grayscale Investments’ close-ended AVAX fund launched in August 2024, which currently holds around US$1.76 million worth of assets under management.

Bullet briefing — Silver squeeze 2.0?

Elsewhere in the precious metals space, silver is spending time in the spotlight as social media users plan a ‘silver squeeze 2.0’ for this coming Monday (March 31).

Many market participants will be familiar with the 2021 silver squeeze, when members of Reddit’s WallStreetBets forum tried to squeeze the market like they did for GameStop (NYSE:GME).

The movement got a lot of attention and resulted in some price movement before petering out.

This time around, the push seems to have originated on X, formerly Twitter, where it’s quickly gained traction among key players in the silver community.

Days ahead of the official squeeze, the white metal’s price is on the move. It rose to the US$34.50 per ounce level on Thursday (March 27), although it had pulled back to around US$34.10 by Friday’s close.

The activity has sparked optimism about what will unfold next week — while silver is known to be frustrating, it can also move quickly when it does break out.

Markets and commodities react

In Canada, markets were in the red this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell 1.2 percent during the week to close at 24,759.15 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) decreased 1.04 percent to 633.63 and the CSE Composite Index (CSE:CSECOMP) dropped 2.43 percent to 121.13.

US equity markets fell even further this week. The S&P 500 (INDEXSP:INX) lost 2.4 percent to close at 5,5680.95, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 3.79 percent to 19,281.40 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 1.41 percent to 41,583.91.

The gold price climbed to fresh all time highs this week gaining 2.02 percent to US$3,084.48 per ounce at 5:00 p.m. EDT Friday. The silver price rose higher with a 3.29 percent increase during the period to US$34.10.

In base metals, the copper price set an all time high of US$5.32 per pound on Wednesday before finishing the week flat to close out Friday at US$5.13 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was up 0.41 percent to close at 560.50.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 2:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

5. Supernova Metals (CSE:SUPR)

Weekly gain: 39.71 percent
Market cap: C$14.1 million
Share price: C$0.475

Supernova Metals is an exploration company with rare earth mineral claims in Newfoundland and Labrador, Canada, as well as petroleum interests in Namibia.

Its TT rare earth claims comprise two licenses spanning 825 hectares in central Labrador and are adjacent to Canada Rare Earth’s (TSXV:LL,OTC Pink:RAREF) Two Tom project. The company shared plans to begin exploration in February.

In addition to its TT Claims, the company announced on January 31 that it had successfully completed its acquisition of NamLith Resources. The purchase provides Supernova with an 8.75 percent indirect ownership interest in Block 2712A and petroleum exploration license 107 in Namibia’s offshore Orange Basin.

In a follow-up on February 6, Supernova reported that a NI51-101 technical report is being prepared for the block. The company has since added two senior strategic advisors with experience in the energy industry.

The company has not released any project updates in the past week.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.