BITF - Why Shares of Riot Blockchain Marathon Digital Hut 8 Mining and Bitfarms Are Surging Today
2023-03-13 16:10:26 ET
Shares of several Bitcoin (CRYPTO: BTC) mining stocks surged higher after the price of Bitcoin rebounded Monday.
That rebound was mostly thanks to the news Sunday that federal banking regulators would backstop deposits at SVB Financial (NASDAQ: SIVB) and Signature Bank (NASDAQ: SBNY) after both experienced runs on deposits and subsequently collapsed.
Shares of Riot Blockchain (NASDAQ: RIOT) traded close to 20% higher as of 3:23 p.m. ET Monday, while Marathon Digital (NASDAQ: MARA) and HUT 8 Mining (NASDAQ: HUT) traded roughly 30% and 21% higher, respectively, and shares of Bitfarms (NASDAQ: BITF) were up by about 17%.
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Why Shares of Riot Blockchain, Marathon Digital, Hut 8 Mining, and Bitfarms Are Surging Today