Shiba

Rally

Bitcoin

April

Several Bitcoin mining companies listed on the <a href="https://www.nasdaq.com/market-activity/index/comp" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Nasdaq</a> stock exchange experienced notable gains in their share prices this past trading week, particularly in the 24 hours leading up to Bitcoin’s fourth halving event on April 20.
This event, critical to the operations of Bitcoin mining firms, cuts the reward for mining each block by half—from 6 BTC to 3.125 BTC.
As anticipation built, stock investors speculated about which companies might emerge as leaders in the industry.
This speculation resulted in significant price surges for some firms.
Riot Platforms (RIOT) led with a 10.13% increase in its share price to $9.13 on April 19, following the announcement of a new 250-acre mining facility in Corsicana, Texas.
The same day, Jason Les, CEO of Riot Platforms, had the honor of ringing the closing bell at Nasdaq headquarters.
Close behind was Marathon Digital (MARA), which saw a 9.78% jump to $16.50. Clean Spark (CLSK) also enjoyed a rise, with shares up 5.98% to $17.20.
READ MORE: <a href="https://www.cryptointelligence.co.uk/sleepy-shiba-sleshib-to-rally-13000-take-on-shib-and-bome-with-huge-mexc-listing/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Sleepy Shiba (SLESHIB) to Rally 13,000%, Take on SHIB and BOME With Huge MEXC Listing</a>
These increases came as firms prepared to adjust their operational strategies post-halving to maintain profitability, either by expanding operations or potentially ceasing them if the costs became unsustainable.
The challenges facing the industry were underscored by Hut 8 CEO Asher Gennot, who noted that several Bitcoin mining companies faced bankruptcy in 2022 due to overleveraging and high energy costs.
In response, major Bitcoin miners, including Marathon Digital, have been proactive; Marathon recently announced the acquisition of a 200-megawatt Bitcoin mining facility in Texas for $87.3 million.
Additionally, Riot Platforms made a significant investment in December 2023, purchasing 66,560 mining rigs from MicroBT in one of the firm’s largest expansions.
While Bitcoin mining firms enjoyed a day of gains, the broader S&amp;P 500 index did not fare as well, recording a 0.88% decrease over 24 hours and a total decline of 3.54% over the last five trading days, according to Google Finance data.
These fluctuations underscore the volatile nature of both the cryptocurrency and stock markets as firms navigate the new landscape post-halving.
To submit a <a href="https://www.cryptointelligence.co.uk/category/press-releases/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto press release (PR)</a>, send an email to <a href="mailto:sales@cryptointelligence.co.uk" rel="noopener noreferrer nofollow">sales@cryptointelligence.co.uk</a>.

Bitcoin Mining Stocks Surge on Nasdaq Ahead of Bitcoin’s Fourth Halving Event

Crypto Intelligence

2024년 4월 22일에 게재된 다른 기사

The Road Ahead for Bitgert Coin After Bitcoin’s Halving

Detailed Analysis of Recent Cryptocurrency Market Trends

Let’s face the possibility of Federal Reserve hiking interest rates

Rise of AI and Tech Giants in US Military

LUNC News: Terra Classic Community Restores Key IBC, Revives Liquidity

Uniswap & Dai Investors Seize Raffle Coin Presale: RAFF Token Nearly Sold Out in Stage 1 Promisin...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!