Bitcoin miners are experiencing a significant drop in stock prices as the upcoming halving is slated for later this week.The stock prices of Marathon Digital and Riot Blockchain , key players in Bitcoin mining, have experienced significant declines, dropping by approximately 53% and 54%, respectively, from their peak values earlier this year in February, as per
CleanSpark’s stock surged to a three-year high of $23.40 on March 25 but has since retreated by 38.1% to $14.48. Despite this decline, it remains up by almost 250% for the year.Meanwhile, non-U.S. Bitcoin miners like Singapore’s Bitdeer Technologies and Australia’s Iris Energy , both listed on the Nasdaq, have witnessed significant declines of 40.8% and 47.6%, respectively, since reaching year-to-date highs in mid-February.
The recent rise in geopolitical tensions over the weekend has further fueled a risk-off sentiment among investors.by Bloomberg. They point to factors such as low-cost operations, advancements in equipment efficiency, and increasing demand for crypto assets, which they believe can help offset the anticipated $10 billion annual revenue losses from the upcoming halving.from the new spot Bitcoin ETFs to drive BTC prices higher, helping to counteract the negative effects of the halving.
Jaran Mellerud, founder and chief mining strategist of Hashlabs Mining, suggested that if Bitcoin’s price doesn’t continue to rise after the halving, some U.S. miners may need toBitcoin Miners Earned $75.9 Million in Daily Revenue, Second-Highest in HistoryAI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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