Shares of crypto stocks are trading higher after Bitcoin reached $35,000 for the first time since 2022.
Portfolio Pulse from Benzinga Newsdesk
Crypto stocks are trading higher following Bitcoin's surge to $35,000, its highest level since 2022. Stocks that may be affected include BTBT, CAN, CIFR, CLSK, COIN, HUT, MARA, and RIOT.
October 24, 2023 | 1:55 pm
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POSITIVE IMPACT
Bit Digital (BTBT) may see a positive impact due to the rise in Bitcoin prices.
As a company involved in Bitcoin mining, Bit Digital's performance is closely tied to the price of Bitcoin. The recent surge in Bitcoin prices could therefore have a positive impact on BTBT's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Canaan (CAN) may benefit from the rise in Bitcoin prices.
Canaan, a leading provider of supercomputing solutions and a producer of one of the world's first ASIC-powered Bitcoin mining machines, could see its stock price rise in response to the surge in Bitcoin prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Cipher Mining (CIFR) may see a positive impact due to the rise in Bitcoin prices.
Cipher Mining, a Bitcoin mining company, could see its stock price rise in response to the surge in Bitcoin prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
CleanSpark (CLSK) may benefit from the rise in Bitcoin prices.
CleanSpark, a company that provides advanced energy software and control technology, has a division dedicated to Bitcoin mining. The rise in Bitcoin prices could therefore have a positive impact on CLSK's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Coinbase (COIN) may see a positive impact due to the rise in Bitcoin prices.
Coinbase, a digital currency exchange, could see its stock price rise in response to the surge in Bitcoin prices as it could lead to increased trading volumes.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hut 8 Mining (HUT) may benefit from the rise in Bitcoin prices.
Hut 8 Mining, a Bitcoin mining company, could see its stock price rise in response to the surge in Bitcoin prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Marathon Digital Holdings (MARA) may see a positive impact due to the rise in Bitcoin prices.
Marathon Digital Holdings, a digital asset technology company that mines cryptocurrencies, could see its stock price rise in response to the surge in Bitcoin prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot Blockchain (RIOT) may benefit from the rise in Bitcoin prices.
Riot Blockchain, a Bitcoin mining company, could see its stock price rise in response to the surge in Bitcoin prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100