Bitcoin Miners Marathon Digital, Riot Platforms Are Rising: What's Going On?
Portfolio Pulse from Adam Eckert
Crypto mining stocks Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Platforms Inc (NASDAQ:RIOT) are trading higher as Bitcoin's price continues to rise due to optimism surrounding a potential spot ETF. BlackRock and other financial firms have made changes to their submissions for spot Bitcoin ETFs. JPMorgan anticipates the SEC will approve a spot ETF within the next few months.
October 24, 2023 | 1:40 pm
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POSITIVE IMPACT
Marathon Digital Holdings Inc's stock is trading higher due to the rising price of Bitcoin and optimism surrounding a potential spot ETF.
As a company engaged in mining digital assets, particularly Bitcoin, Marathon Digital Holdings Inc's stock price is directly influenced by the price of Bitcoin. The rising price of Bitcoin and the potential approval of a spot ETF, which is expected to increase demand and liquidity in the crypto space, are positive news for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms Inc's stock is trading higher due to the rising price of Bitcoin and optimism surrounding a potential spot ETF.
As a company focused on building, supporting and operating blockchain technologies with a vision to become the leading Bitcoin-driven infrastructure platform, Riot Platforms Inc's stock price is directly influenced by the price of Bitcoin. The rising price of Bitcoin and the potential approval of a spot ETF, which is expected to increase demand and liquidity in the crypto space, are positive news for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100