Some bitcoin miners are giving investors an opportunity to get in on the cryptocurrency’s big postelection rally. Pure play bitcoin miners have been lagging this year for a host of reasons. Some names in the sector pivoted or expanded operations to AI data centers. Additionally, the launch of bitcoin ETFs in January gave investors a new vehicle for getting bitcoin exposure, which may have lowered demand for these stocks. Meanwhile, the halving on the Bitcoin network in April slashed miners’ revenue in half, and the price of bitcoin – which can make mining more lucrative as it rises – drifted sideways for most of the year. CLSK RIOT,MARA 5D mountain Bitcoin mining laggards have been outperforming in the the recent crypto rally Now,…
Nov 14 2024
