Bitcoin
What’s going on with the Bitcoin Mining, Riot Platforms, and CleanSpark Digital Action Marathon? -Cleanspark (NASDAQ:CLSK)
Bitcoin BTC/USD mining stocks including Marathon Digital Holdings Inc MARA, Riot Inc. Platforms RIOT and CleanSpark Inc. CLSK is falling on Monday as bitcoin trades below $62,000. Here’s a look What do you need to know.
What to know: Bitcoin is down about 4.5% in the last 24 hours and is down approximately 6.5% in the last week, causing weakness in the broader crypto space and crypto-related stocks.
Bitcoin has been trading within approximately 15% of all-time highs since rising above $70,000 in March following the approval of several spot bitcoin ETFs. It has been trending towards the lower end of the range in recent weeks and appears to be testing support levels in early trading on Monday.
Miners in particular may be facing selling pressure following the recent halving. The amount of rewards miners receive for successfully mining bitcoin transactions was halved in April. As previously reported by BenzingaMiners’ bitcoin holdings have fallen to their lowest levels in about 14 years as reserves have declined by approximately 50,000 bitcoins year-to-date.
Marathon Digital is dedicated to mining digital assets and focuses on the Bitcoin ecosystem. Shares were down 3.59% at $18.52 at press time.
Riot Blockchain is focused on building, supporting and operating blockchain technologies. Shares fell 3.25% to $9.24 on Monday morning.
CleanSpark is an energy company that transitioned its expertise to focus on Bitcoin mining in 2020. CleanSpark shares are down 3.93% to $16.61 at the time of writing.
See too: Raoul Pal predicts crypto boom in Q4 of election year and calls it ‘banana zone’
$BTC Price Action: Bitcoin fell 4.61% in a 24-hour period, trading at $61,223 at the time of publication, according to Benzinga Pro.
Photo: Mohamed Hassan from Pixabay.
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