Bitcoin Miner Stocks Fall As Bitcoin Crashes: What's Going On?
Portfolio Pulse from Erica Kollmann
Bitcoin mining stocks, including Marathon Digital Holdings (MARA) and Riot Platforms (RIOT), are falling as Bitcoin's price drops below $56,000. Smaller miners like CleanSpark (CLSK), TeraWulf (WULF), and Bitfarms (BITF) are also affected. Bitcoin's recent decline is linked to movements by Mt. Gox and concerns from analysts about further downside.
July 05, 2024 | 3:02 pm
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NEGATIVE IMPACT
Bitfarms shares are trading lower as Bitcoin's price falls below $56,000. The company's stock is influenced by Bitcoin's price movements.
Bitfarms' stock price is affected by Bitcoin's performance. The recent decline in Bitcoin has led to a drop in BITF's stock price, indicating the company's exposure to Bitcoin's volatility.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
CleanSpark shares are trading lower as Bitcoin's price falls below $56,000. The company's stock is influenced by Bitcoin's price movements.
CleanSpark's stock price is affected by Bitcoin's performance. The recent decline in Bitcoin has led to a drop in CLSK's stock price, indicating the company's exposure to Bitcoin's volatility.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Marathon Digital Holdings shares are down 6.82% as Bitcoin's price falls below $56,000. Analysts have mixed ratings with a 12-month price target of $22.19.
Marathon Digital Holdings is directly impacted by Bitcoin's price movements. The recent decline in Bitcoin has led to a significant drop in MARA's stock price. Analysts have mixed ratings, indicating uncertainty in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Riot Platforms shares are down 4.02% as Bitcoin's price falls below $56,000. The company's performance is closely tied to Bitcoin's price movements.
Riot Platforms is significantly affected by Bitcoin's price. The recent decline in Bitcoin has led to a drop in RIOT's stock price, reflecting the company's dependency on Bitcoin's performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
TeraWulf shares are trading lower as Bitcoin's price falls below $56,000. The company's stock is influenced by Bitcoin's price movements.
TeraWulf's stock price is affected by Bitcoin's performance. The recent decline in Bitcoin has led to a drop in WULF's stock price, indicating the company's exposure to Bitcoin's volatility.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70