Bitcoin’s spike drives rebound in hard-hit crypto mining stocks – Business Insider

Bitcoin’s spike drives rebound in hard-hit crypto mining stocks – Business Insider


Bitcoin Graph January 2021 Reuters.JPG
Bitcoin has surged more than 300% in just a year, hitting a new all-time high on Friday before slipping back

  • Cryptocurrency miners are soaring on Friday as Bitcoin recovers from its recent fall.
  • Shares of Marathon Patent Group, Riot Blockchain, and Bit Digital all jumped double digits on Friday before paring gains.
  • Bitcoin was up as much as 15% before falling slightly.
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Crypto mining stocks-including Marathon Patent Group, Riot Blockchain, Bit Digital, and others-are soaring on Friday as Bitcoin’s recovery continues.

Crypto miners saw their share prices plummet through January after Bitcoin fell from January 8 highs of over $40,000, momentarily dropping below $30,000 this week for the first time since Jan 2.

In the past two days though Bitcoin has recovered over 20%, and crypto mining stocks are soaring in response.

Shares of Marathon Patent Group were up as much as 20%, Bit Digital was up as much as 18%, and Riot Blockchain was up as much as 21% on the day before the stocks pared gains.

Bitcoin was up as much as 15%.

Read More: MORGAN STANLEY: Buy these 17 stocks with strong earnings that are expected to outperform into 2022 even if the broader market sinks

The big jump for crypto miners and for Bitcoin
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