Shares of publicly traded mining businesses have increased significantly in tandem with the spike in bitcoin and the larger crypto market. According to data, the value of many of these companies’ equities has increased by double digits against the US dollar during the past five days.
Major Increase for Mining Companies That Are Publicly Traded
Firms associated with the digital currency industry that are publicly traded have experienced significant rises over the last week. In the past day, Coinbase Global (Nasdaq: COIN) has increased 3.75%, while Michael Saylor’s Microstrategy (Nasdaq: MSTR) has surged 11% during Monday’s trading. In the five days prior to this, COIN increased by over 24%, and MSTR increased by 45.45%.
On the other hand, mining firms saw noticeably faster growth as the top bitcoin mining companies on the stock exchange saw a sharp increase in their valuations. For instance, Monday saw a 14.19% surge in Marathon Digital Holdings (Nasdaq: MARA), which has increased by more than 63% during the previous five days. Yesterday’s market saw a 12.87% spike in Bitfarms Limited (Nasdaq: BITF), and over the course of five days, BITF’s value surged by nearly 44%.
Cleanspark (Nasdaq: CLSK) experienced exponential growth this week, surging by 106%, while Riot Platforms (Nasdaq: RIOT) saw a 52% increase. During the same five-day period, Greenidge Generation (Nasdaq: GREE) also had an increase of 53.64%. Terawulf (Nasdaq: WULF), Hut8 (Nasdaq: HUT), and Argo Blockchain (Nasdaq: ARBK) all saw increases of 54%, 49%, and 33%, respectively.
Blackrock’s investment in MARA has increased dramatically in the last few months, according to research compiled by theminermag.com. In a similar line, Blackrock’s investment in RIOT has significantly increased, according to theminermag.com’s report. Meanwhile, shares of Stronghold Digital (Nasdaq: SDIG) have increased by more than 37%, and Hive (Nasdaq: HIVE) has experienced a 28% increase in shares. Moreover, Bit Digital (Nasdaq: BTBT), Iris Energy (Nasdaq: IREN), and Bitdeer (Nasdaq: BTDR) have all had significant double-digit rises this Monday.
What are your thoughts on this week’s market results for the mining companies that are publicly traded? Please feel free to express your ideas and opinions in the space provided for comments below.