Marathon Digital, Riot Platforms And CleanSpark Are Rising Monday: What's Going On With Bitcoin Mining Stocks?
Portfolio Pulse from Adam Eckert
Bitcoin mining stocks, including Marathon Digital Holdings (NASDAQ: MARA), Riot Platforms Inc (NASDAQ: RIOT), and CleanSpark Inc (NASDAQ: CLSK), are trading higher as Bitcoin bounces back from recent lows. Bitcoin is up more than 2% over the last 24 hours, driven by significant inflows into spot ETFs. Seasonal trends are also historically favorable for Bitcoin in July.
July 01, 2024 | 4:28 pm
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POSITIVE IMPACT
CleanSpark shares are up 8.87% as Bitcoin prices rise and spot ETFs see significant inflows. Seasonal trends for Bitcoin in July are also favorable.
CleanSpark benefits from the rise in Bitcoin prices and increased inflows into spot ETFs. The favorable seasonal trends for Bitcoin in July further support the stock's upward movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Marathon Digital Holdings is up 9.87% as Bitcoin rebounds and spot ETFs see significant inflows. Seasonal trends are also favorable for Bitcoin in July.
Marathon Digital Holdings benefits directly from the rise in Bitcoin prices and increased inflows into spot ETFs. The favorable seasonal trends for Bitcoin in July further support the stock's upward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms shares are up 5.91% as Bitcoin prices rise and spot ETFs see significant inflows. Seasonal trends for Bitcoin in July are also favorable.
Riot Platforms benefits from the rise in Bitcoin prices and increased inflows into spot ETFs. The favorable seasonal trends for Bitcoin in July further support the stock's upward movement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100