Shares of several crypto-related stocks are trading higher amid strength in Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Shares of crypto-related stocks CIFR, HUT, MARA, MSTR, RIOT, and WULF are trading higher due to an increase in Bitcoin's value.

February 09, 2024 | 2:38 pm
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POSITIVE IMPACT
CIFR shares are trading higher in response to Bitcoin's strength.
CIFR, being a crypto-related stock, is directly impacted by the performance of Bitcoin. As Bitcoin's value increases, investor optimism in crypto-related stocks like CIFR grows, likely leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
HUT's stock price is up, correlating with Bitcoin's recent gains.
HUT, as a company involved in the crypto space, benefits from positive movements in Bitcoin's price. This correlation suggests that HUT's stock price is likely to experience a short-term increase as Bitcoin continues to perform well.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
MARA shares are experiencing an uptick, driven by the positive momentum in Bitcoin.
MARA's business is closely tied to the cryptocurrency market, particularly Bitcoin. An increase in Bitcoin's value typically leads to heightened investor interest in MARA, suggesting a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
MSTR's stock is on the rise, buoyed by the upward movement in Bitcoin.
MSTR's significant investment in Bitcoin makes its stock price highly sensitive to changes in Bitcoin's value. The current increase in Bitcoin's price is likely to have a positive short-term effect on MSTR's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
RIOT's shares are trading higher, reflecting the positive trend in Bitcoin.
RIOT, a company that mines Bitcoin, directly benefits from increases in Bitcoin's price. This positive correlation suggests a likely short-term increase in RIOT's stock price as Bitcoin continues to gain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
WULF's stock price is climbing, in line with the rise in Bitcoin's value.
WULF, being involved in the cryptocurrency industry, sees its stock price influenced by the performance of Bitcoin. The current uptrend in Bitcoin's value is likely to positively impact WULF's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80