CIFR - Why did Riot Platforms rise? Crypto gains push mining stocks higher
2023-03-23 17:15:45 ET
Riot Platforms ( RIOT ) ended Thursday's trading session 16.9% higher, paring some gains after rising as much as 20% , tracking broader gains in cryptocurrency mining stocks.
The gains were spurred by bitcoin ( BTC-USD ) rising after the Federal Reserve pushed back against cutting rates this year with inflation still well above target.
The crypto market seemed largely unbothered by the SEC's crackdown on exchange Coinbase ( COIN ). At the time of writing, bitcoin ( BTC-USD ) was up 3.3% at $28.31K.
Other miners that ended in the green include: Cipher Mining ( CIFR ) +14.2% , BIT Mining ( BTCM ) +14.1% , Hut 8 Mining ( HUT ) +9.7% , Marathon Digital ( MARA ) +8.7% , Bit Digital ( BTBT ) +8.3% , CleanSpark ( CLSK ) +7.1% .
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Why did Riot Platforms rise? Crypto gains push mining stocks higher