WULF - Why Marathon Digital CleanSpark and TeraWulf Are Heading to the Moon Today
2024-05-06 14:49:35 ET
Cryptocurrency miners are seeing incredible interest in today's session. Shares of Marathon Digital (NASDAQ: MARA) , CleanSpark (NASDAQ: CLSK) , and TeraWulf (NASDAQ: WULF) are up 19.2%, 10.7%, and 10.4%, respectively, as of 1:15 p.m. ET.
Of course, the moves in these top Bitcoin miners have a lot to do with Bitcoin's price action in recent days. Since dropping below the $57,000 mark to start this month, Bitcoin has rallied back above $65,000 earlier in today's session. At these levels, Bitcoin is within roughly 10% of its all-time high, and appears to be building upside momentum. That's great for Bitcoin miners like Marathon, CleanSpark, and TeraWulf that generate their revenue in Bitcoin, with expenses denominated in dollars.
That said, there are also plenty of individual company-specific catalysts driving these stocks higher today. Let's dive into what's responsible for the big moves we're seeing in these crypto stocks today.
For further details see:
Why Marathon Digital, CleanSpark, and TeraWulf Are Heading to the Moon Today