Why Bitcoin Mining Stocks Popped Today
— Chaos play, Prices, Volatile stocks like miners, Riot blockchain, Publicly traded bitcoin miners may, Close, Weeks, Today, Overnight, Hut 15 — 1 min read
Bitcoin was trading 6.8% higher over the prior 24 hours at the close of stock trading on Thursday. Hut 8 Mining (HUT 15.94%) jumped by as much as 18.1% in trading Thursday. Riot Blockchain (RIOT 16.56%) gained 16.8%, and Bitfarms (BITF 13.68%) climbed 13.7%. The market overall was up Thursday, with the S&P 500 rising 1.5% and the Nasdaq Composite climbing 2.3%. Those who are considering investing in crypto miners need to recognize the leveraged positions those businesses are in. They have a lot of upside if the price of Bitcoin rises, but there's also a very real risk that those companies will lose money Source