Marathon Digital ( NASDAQ: MARA ), +18% , and CleanSpark ( NASDAQ: CLSK ), +26% , stocks both surged in Wednesday afternoon trading after the bitcoin miners posted lower-than-expected quarterly results earlier this week. The gains also come against a backdrop of bitcoin ( BTC-USD ) strength, up 3.7% to $23.9K.
Both stocks have a green energy connection. CleanSpark ( CLSK ) uses low-carbon energy sources, such as wind, solar, nuclear and hydro, to power its mining operations. Marathon Digital ( MARA ) started energizing miners in Texas after its power generator received confirmation for the tax-exempt status of its wind farm.
CleanSpark ( CLSK ) shares drove up even though its fiscal Q3 top and bottom lines trailed Street estimates on Tuesday. At the same time, it announced the acquisition of a new facility and its intention to sell its energy business.
Another bitcoin miner also focusing on sustainable power sources, Bit Digital ( BTBT ) saw its stock jump 15% . On Monday, the company said its July bitcoin production more than doubled from the prior month.
Shares in Greenidge Generation Holdings ( GREE ), which commits to 100% carbon-neutral datacenter operations, were up 13% .
Bitcoin mining stocks, overall, are having a good day as investors feel comfortable taking on risk as the consumer inflation softened in July from its hot June pace .
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Marathon Digital, CleanSpark stocks jump amid bitcoin strength, despite weak earnings