TL;DR:
📈 Bitcoin (BTC) surged over $27,000, boosting mining stocks like Hut 8 Mining (HUT), Riot Platforms (RIOT), and Marathon Digital (MARA). Hut 8 Mining gained 6.5% due to regulatory approval for its merger with USBTC.
Facts:
- Bitcoin (BTC) rose by 3%, surpassing $27,000 for the first time in over two weeks.
- Hut 8 Mining (HUT) saw a notable gain of 6.5% and received Canadian regulatory approval for its merger with USBTC.
- Peers Riot Platforms (RIOT) and Marathon Digital (MARA) also experienced gains, with 6% and 2% respectively.
- Bitcoin mining stocks, including the mentioned ones, had faced significant declines over the past two months due to Bitcoin’s drop from the $30,000 level.
- As of now, Bitcoin is trading at $27,300, marking a 3.1% increase in the past 24 hours.
- The U.S. Federal Reserve is expected to keep its benchmark fed funds rate steady at 5.25%-5.50% in an upcoming rate-setting meeting later this week.
BitminerFactory is brought to life by Darrell Houghton, our astute publisher. With a deep-rooted passion for crypto and crypto mining spanning many years, Darrell’s unwavering enthusiasm fuels his daily quest for knowledge. He is eager to share the pivotal news stories of the day while also providing his own analysis and commentary with Bitminer Factory’s readers.
Source: Coindesk
