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Sunday, July 14, 2024
HomeNewsRoughed-Up Bitcoin Miner Stocks Attempt Rally as BTC Retakes $27K

Roughed-Up Bitcoin Miner Stocks Attempt Rally as BTC Retakes $27K

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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.

Source: Coindesk

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