Bitcoin Mining Stocks Fall as BTC Slides


© Reuters.

By Sam Boughedda

Investing.com — 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%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published.