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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Mining Stocks In Solid Gains As Crypto Market Rallies

Samuel Edyme
Samuel Edyme
2 years ago
3 mins read
Compound (COMP) Surges

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Following the ongoing rally in the crypto market, the stocks of the top five leading Bitcoin mining companies have surged in value, amassing solid gains. Major crypto stocks are also rising and have recorded massive gains in recent weeks. 

Though investors are still skeptical if this is genuinely the real bull run they have been anticipating, major assets in the crypto industry have been in the green for the past weeks regardless of some negative news spreading in the industry.

Top Five Bitcoin Mining Stocks Rallies

Bitcoin mining companies Riot Blockchain, Hive, Marathon Digital, Hut8, and Bitfarms have so far been in green since the beginning of this week, with each gaining at least 10% in value.

According to data from MarketWatch, Riot Blockchain (RIOT) value has seen gains of up to 43% this week. The shares saw a closing price of $6.13 in after-hours trading on Thursday, following a 14.5% increase on the same day.

Related Reading: Why The Bitcoin Mining Hashrate May Not Be Out Of The Woods Just Yet

Hive Blockchain Technologies was in green yesterday. HIVE value surged nearly 40%, up by 37.6% in the last 24 hours. It closed with a trading price of $3.21, and so far, its weekly gain has amassed to about 76%.

Marathon Digital stock, with the ticker MARA, saw significant gains on Thursday and went up by 30.9%, closing the day at $6.76. The mining firm is up by 65% since the beginning of the week, according to MarketWatch. 

Following its recent announcement of having mined 3,568 BTC throughout 2022 and increasing its reserves by 65% to 9,086 BTC, Hut8 Mining Corp (HUT) stock skyrocketed by 22.2% on Thursday, ending the day with a $1.38 trading price. 

Bitfarms (BITF) was not left out of the ubiquitous rebound, as its share prices have been up by 73% since Monday. BITF gained 44.3% on Thursday to end the day’s trading session at $0.94.

However, despite the bullish trend with these Bitcoin mining stocks, they are still far from their peak value, given the 2022 impact on asset value.

Related Reading

Russia Miners Buy More Bitcoin Mining Rigs in Quarter 4, Report

Russian Miners Buy More Bitcoin Mining Rigs In Q4: Report

1 year ago

Crypto Stocks Are On The Rise

Not only are mining firms experiencing a bullish cycle at the moment, but prominent bitcoin investor MicroStrategy (MSTR), is also up 30% since Monday morning and eventually ended Thursday’s trading session at a $208 trading price.

Coinbase’s COIN also amassed 8.6% in value yesterday and currently trades at $47.55.

TOTAL cryptocurrency market capitalization price chart
Total cryptocurrency market cap price is moving sideways on the 4-hour chart. Source: Crypto TOTAL Market Cap on TradingView.com

Meanwhile, the global cryptocurrency market capitalization has seen massive gains over the past few days, adding nearly $100 billion to its total capitalization. Crypto pioneer Bitcoin has been printing greens since the beginning of this year, adding to the demand for mining stocks.

Featured image from Freepiks, Chart from TradingView
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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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