Bitcoin Mining Stocks Fall as BTC Slides

© Reuters.

By Sam Boughedda — Shares of Bitcoin mining stocks are down Tuesday as hit a low of $48,355 earlier in the session.

While the move in Bitcoin is not particularly significant, considering past price action, Bitcoin miners are, of course, susceptible to any change in the price of the cryptocurrency.

Riot Blockchain Inc (NASDAQ:) shares are currently down more than 9%. However, the stock has faced added pressure on Tuesday after Roth Capital analyst Darren Aftahi lowered its price target to $46 from $55. Aftahi told investors that Riot had benefitted from a “stay-at-home” premium, but that was now waning — something he also said about FuboTV (NYSE:) in a separate note.

Elsewhere, Marathon Digital Holdings Inc (NASDAQ:), which is currently being sued for potential securities law violations, is down 11%, now trading under the $35 mark. Bit Digital Inc (NASDAQ:) has fallen over 8% so far in Tuesday’s session, while Hut 8 Mining Corp (NASDAQ:) has declined 10%.

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