Crypto mining stocks see massive gains amid Bitcoin rebound


Marathon Digital Holdings and Hut 8 Mining were among the biggest daily gainers after double-digit rallies on Monday.

Bitcoin mining firms saw their stocks make huge moves on Monday following Bitcoin’s breakout to prices above $22,000.

The stocks of top Bitcoin (BTC) mining firms jumped as positivity around the crypto industry seeped into the sector. As BCT/USD rose to retest price levels above $22,200, the shares of top miners opened higher and ripped.

MARA leads gainers

Marathon Digital Holdings Inc. (MARA) rose to intraday highs of $10.97, outperforming Bitcoin as gains amounted to close to 36%. The stock however hit resistance and slipped below $10.00, although it still closed more than 21% higher at $9.76.

Another stock to see massive gains was Riot Blockchain Inc. (RIOT), which surged to intraday highs of $6.88 to accumulate over 23% in gains at the intraday peak. Despite cooling off into the close, RIOT stock still closed double digits in the green at $6.23 (+11.85%).

Shares of Bitfarms, Core Scientific Inc. and Hut 8 Mining Corp. also registered impressive gains at the start of the week. Hut 8 ended Monday’s session nearly 8.7% up, Core Scientific was 8.3% higher and Bitfarms managed +4%.

Coinbase (COIN) and MicroStrategy (MSTR) also registered significant gains, with the Coinbase stock closing more than 9% higher and MicroStrategy at +5%.

The post Crypto mining stocks see massive gains amid Bitcoin rebound appeared first on CoinJournal.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.