Riot’s net income was boosted by a 131% year-on-year increase in Bitcoin’s price despite the cryptocurrency becoming more difficult and expensive to mine.
Bitcoin miner Marathon increases 2024 hash rate target to 50 EH/s
If Marathon reaches its 50 EH/s target, it would mark more than a 100% increase in the firm’s hash rate since the start of 2024.
Bitcoin’s Outperformance Means Some of Expected Post-Halving Rally May Have Come Early: JPMorgan
Recent weakness in bitcoin mining stocks ahead of the reward halving offers an attractive entry point for investors, the report said.
Bitcoin Year-End Price Target Raised to $90K at Bernstein
Texas Blockchain Council, Riot Platforms Sue Dept. of Energy, OMB Over ‘Emergency’ Survey
The Texas Blockchain Council (TBC) and Riot Platforms, one of the largest crypto miners in the state, sued the U.S. Department of Energy for trying to collect information from many of its members, including Riot.
Crypto Stocks Rally Pre-Market as Bitcoin Tops $46K
Bitcoin climbed over $46,000 for the first time in nearly a month early Friday, extending its gain for the week to nearly 10%.
Marathon Digital breaks own record with 1,853 Bitcoin mined in December
Marathon Digital mined a whopping 1,853 Bitcoin in December, its most ever in a month.
Coinbase Buckles 10% as Crypto Stocks Falter Despite Bitcoin Topping $45K
The decline happened as bitcoin spiked above $45,000 during the day as traders anticipate an imminent spot BTC ETF decision in the U.S.
Bitcoin Bounces Over $43K, Altcoins, Crypto Stocks Burst Higher as Fed Projects Rate Cuts Next Year
tktk
Coinbase, MicroStrategy, Marathon Stocks Buckle 5%-10% as Bitcoin Tumbles Below $42K
A “flash crash” in thin trading Sunday evening, saw bitcoin’s price plunge nearly 10% from the $44,000 level in the space of a few minutes.
Riot Platforms buys $291M in BTC rigs as miners rakes in from Ordinals
It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another 265,000 miners in the future.
Coinbase, Marathon stocks surge as Bitcoin lights ‘fire in the cauldron’
The anticipated Bitcoin halving and potential ETF approvals have lit “some serious fire in the cauldron” for crypto, said Zerocap investment chief Jon de Wet.
Coinbase, Marathon stocks surge as Bitcoin lights ‘fire in the cauldron’
The anticipated Bitcoin halving and potential ETF approvals have lit “some serious fire in the cauldron” for crypto, said Zerocap investment chief Jon de Wet.
Marathon, Riot among most overvalued Bitcoin mining stocks: Report
Bitcoin mining analyst Jaran Mellerud said there are “better-priced opportunities” that could even out the valuation discrepancies between the mining stocks.
Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September
Marathon Digital, in particular, produced 1,242 Bitcoin in September, which accounted for a record 4.3% share of Bitcoin miner rewards.
Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory
Coinbase and other crypto-related companies witnessed a significant rise in stock prices following reports that Grayscale has emerged victorious in its lawsuit against the United States Securities and Exchange Commission (SEC).
On Tuesday, August 29, the US District of Columbia Court of Appeals ruled that the SEC did not provide a “consistent justification” for rejecting Grayscale’s request to convert its Bitcoin Trust (GBTC) into a spot exchange-traded fund (ETF). This decision brings the asset management firm closer to offering a spot Bitcoin ETF in the US.
The price of Bitcoin reacted positively to this development, breaking above and beyond the $26,000 mark. According to CoinGecko data, the premier cryptocurrency is currently valued at $27,136, reflecting a 3.8% price gain in the past week.
Coinbase (COIN) Rally 15% After Grayscale’s Win
The value of Coinbase’s stock COIN stood at $84.70 by the close of the trading session on Tuesday, representing a 15.2% increase from the day’s opening price.
The crypto company’s stock surged by nearly $13 per share, climbing from $73.5 per share to almost $86 during the day, according to Coinbase’s stock information. Coinbase, the largest cryptocurrency exchange in the United States, became publicly listed on Nasdaq in 2021.
This price jump is believed to have been triggered by the success of Grayscale’s appeal against the United States SEC, as mentioned above. While the court’s decision doesn’t automatically convert the asset manager’s Bitcoin Trust to a spot ETF, it is still perceived as a significant milestone in launching the financial product in the North American country.
If spot Bitcoin ETFs receive approval from the Securities and Exchange Commission, Coinbase could become one of the biggest winners due to its surveillance-sharing agreements with some applicants, including the world’s largest asset manager, Blackrock.
These arrangements aim to mitigate potential market manipulation risks – a concern raised by the SEC after the initial Bitcoin ETF submissions.
Marathon and Riot Witness Surge In Stocks Price
Coinbase was not the only cryptocurrency company that enjoyed the ripple effect of Grayscale’s legal triumph. Bitcoin mining companies, like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT), also felt a positive impact on their stock prices.
Favorable judgments, such as the latest Grayscale victory, often boost the interest and optimism of investors in the cryptocurrency industry and crypto-related products. As a result, companies operating in the cryptocurrency space, including Bitcoin mining firms, are likely to receive increased attention from investors.
According to TradingView, the value of MARA soared by about 30% on Tuesday, closing at $13.69 per share by the end of the day’s trading session. Likewise, the RIOT price experienced an 18.2% rally, climbing from $10.39 per share to almost $12.3 at the end of the day.
As of this writing, the Marathon Digital Holdings stock is trading at $12.94 per share, reflecting a 5.2% decrease since the opening of Wednesday’s (30th of August) trading session. Meanwhile, Riot Platforms’ stock has currently declined by 4% to trade at $11.8 per share.
Bitcoin miner Riot Platforms trims Q2 loss to $27.7M
The firm managed to narrow net loss in the quarter as it ramped up Bitcoin production.
Riot Platforms to add 33,000 Bitcoin miners ahead of 2024 halving
The new rigs will add 7.6 EH/s to the firm’s self-mining capacity, but won’t be installed until the first quarter of 2024.
Ripe for the squeeze? Bitcoin mining stocks remain under attack from short sellers
BTC price has struggled for nearly a month, but Bitcoin miners revenue is up, calling into question the logic of short sellers betting against mining stocks.
BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees: Report
Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty.