Following the ongoing rally in the crypto market, stocks in the top five bitcoin mining companies they have risen in value, racking up solid earnings. Major cryptocurrency stocks are also rising and have posted massive gains in recent weeks.
Although investors are still skeptical about whether this is actually the real bull run they have been anticipating, major assets in the crypto industry have been in the green for the past few weeks, regardless of some negative industry news spreading. .
Top 5 Bitcoin Mining Stock Concentrations
bitcoin mining Blockchain startups Riot, Hive, Marathon Digital, Hut8, and Bitfarms have all been in the green so far since the start of this week, each gaining at least 10% in value.
According to MarketWatch data, the value of Riot Blockchain (RIOT) has seen gains of up to 43% this week. The shares registered a closing price of $6.13 in after-hours trading on Thursday, after rising 14.5% the same day.
Related Reading: Why Bitcoin’s Mining Hashrate May Not Be Out Of The Woods Yet
Hive Blockchain Technologies was in the green yesterday. The HIVE value increased by almost 40%, up 37.6% in the last 24 hours. It closed with a trading price of $3.21 and so far its weekly gain has accumulated to around 76%.
digital marathon values, ticker MARA, saw significant gains on Thursday and rose 30.9%, closing the day at $6.76. The mining company is up 65% since the start of the week, according to MarketWatch.
Following its recent announcement to have mined 3,568 BTC throughout 2022 and increase its reserves by 65% to 9,086 BTC, shares of Hut8 Mining Corp (HUT) soared 22.2% on Thursday, ending the day higher. trading price of $1.38.
Bitfarms (BITF) was not left out of the ubiquitous rally as its share price is up 73% since Monday. BITF gained 44.3% on Thursday to end the trading session for the day at $0.94.
However, despite the uptrend with these Bitcoin mining stocks, they are still far from their peak value, given the impact of 2022 on asset values.
Crypto stocks are on the rise
Not only are mining companies experiencing a bullish cycle right now, but prominent bitcoin investor MicroStrategy (MSTR) is also up 30% since Monday morning and finally ended the trading session on Thursday at a bargain price of $208.
from Coinbase COIN also accumulated 8.6% in value yesterday and is currently trading at $47.55.
Meanwhile, the global cryptocurrency market capitalization has seen massive gains in recent days, adding nearly $100 billion to its total capitalization. crypto pioneer Bitcoin it has been printing greens since earlier this year, adding to the demand for mining stocks.
Freepiks Featured Image, TradingView Chart
