As bitcoin and the broader crypto market have surged, shares of publicly traded mining companies have seen substantial growth. Data shows that, in the last five days, stocks of many of these firms have experienced double-digit increases in value against the U.S. dollar.
Publicly Traded Mining Companies See Major Uptick
Publicly-listed firms linked to the digital currency sector have seen notable increases in the past week. Coinbase Global (Nasdaq: COIN) climbed 3.75% in the last 24 hours, and Michael Saylor’s Microstrategy (Nasdaq: MSTR) soared by 11% in Monday’s market activity. Over the preceding five days, COIN advanced more than 24%, while MSTR experienced an increase of 45.45%.
Mining companies, in contrast, experienced notably higher growth, as the leading bitcoin mining corporations on the stock exchange saw their valuations surge. For example, Marathon Digital Holdings (Nasdaq: MARA) leaped by 14.19% on Monday, with a more than 63% increase observed over the last five days. Bitfarms Limited (Nasdaq: BITF) climbed 12.87% in yesterday’s market, and over a five-day period, BITF’s value increased by over 44%.
Riot Platforms (Nasdaq: RIOT) enjoyed a 52% uptick, while Cleanspark (Nasdaq: CLSK) encountered exponential growth this week, rocketing by 106%. Additionally, Greenidge Generation (Nasdaq: GREE) appreciated by 53.64% over the same five-day timeframe. Argo Blockchain (Nasdaq: ARBK) experienced a 54% surge, Terawulf (Nasdaq: WULF) ascended by 49%, and Hut8 (Nasdaq: HUT) achieved a 33% increase.
Research gathered by theminermag.com reveals that Blackrock‘s investment in MARA has significantly expanded recently. In a similar vein, theminermag.com’s analysis also shows a notable uptick in Blackrock’s stake in RIOT. In the meantime, Hive (Nasdaq: HIVE) has enjoyed a 28% uplift in its shares, and Stronghold Digital (Nasdaq: SDIG) has seen its shares climb by more than 37%. Furthermore, Bit Digital (Nasdaq: BTBT), Iris Energy (Nasdaq: IREN), and Bitdeer (Nasdaq: BTDR) have all registered substantial double-digit increases this week.
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