Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Rising: What's Going On?
Portfolio Pulse from Adam Eckert
Crypto mining stocks Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Platforms Inc (NASDAQ:RIOT) and CleanSpark Inc (NASDAQ:CLSK) are rising alongside the price of Bitcoin. The rise is attributed to continued optimism surrounding a potential spot ETF for Bitcoin. Four members of the House Financial Services Committee have called on SEC chair Gary Gensler to approve ETF applications.
September 27, 2023 | 12:55 pm
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POSITIVE IMPACT
CleanSpark's stock is rising alongside Bitcoin's price due to optimism for a potential Bitcoin spot ETF. Shares were up 4.58% at $3.88 at the time of publication.
CleanSpark is an energy company that transitioned its expertise to focus on Bitcoin mining in 2020. The rise in Bitcoin's price and the potential approval of a Bitcoin spot ETF are likely to have a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Marathon Digital's stock is rising alongside Bitcoin's price due to optimism for a potential Bitcoin spot ETF. The stock was up 2.42% at $8.47 at publication time.
Marathon Digital is a crypto mining company focused on the Bitcoin ecosystem. The rise in Bitcoin's price and the potential approval of a Bitcoin spot ETF are likely to have a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms' stock is rising alongside Bitcoin's price due to optimism for a potential Bitcoin spot ETF. Shares were up 3.09% at $9.34 Wednesday morning.
Riot Platforms is focused on building, supporting and operating blockchain technologies with a vision to become the leading Bitcoin-driven infrastructure platform. The rise in Bitcoin's price and the potential approval of a Bitcoin spot ETF are likely to have a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100