North American crypto-mining stocks were having a good day on Tuesday. Hut 8 Mining (NASDAQ: HUT) , Marathon Digital Holdings (NASDAQ: MARA) , and TeraWulf (NASDAQ: WULF) each saw gains between 10% and 11% in earlier trading today. But as of 3 p.m. ET, these gains had dwindled to 1.8%, 2.7% and 5.7%, respectively.
As is typical with these Bitcoin (CRYPTO: BTC) miners, the price of the token generally dictates the price for these stocks. With the cryptocurrency initially surging above the psychologically important $20,000 threshold this morning, all seemed cheery in the world of digital currency.
But a late-day collapse in risk assets has led to the world's largest cryptocurrency dipping below $19,000. Thus, this top token has essentially lost all its gains from midday yesterday.
For further details see:
Why Hut 8 Mining, Marathon Digital, and TeraWulf Stocks Popped, Then Dropped, Today