Shares of several Bitcoin BTC/USD mining stocks including Marathon Digital Holdings Inc MARA, Riot Platforms Inc RIOT and CleanSpark Inc CLSK are trading higher Tuesday amid strength across the broader cryptocurrency market. Here's what you need to know.
What To Know: Crypto miners and related stocks are getting a lift Tuesday as the crypto market continues to trend higher. Bitcoin hit its highest level since December 2021 last week and Ethereum ETH/USD just crossed the $3,000 level for the first time since 2022.
It’s worth noting that mining stocks have seen increased momentum since CleanSpark reported better-than-expected quarterly results at the beginning of the month.
Riot is expected to report earnings near the end of the month. The company is estimated to report a loss of 28 cents per share and revenue of $85.757 million. Marathon is expected to report earnings in early March. The company is expected to report earnings of 2 cents per share and revenue of $141.408 million, per Benzinga Pro.
Marathon Digital is engaged in mining digital assets and focuses on the Bitcoin ecosystem. The stock was up 3.49% at $27.90 at publication time.
Riot Blockchain is focused on building, supporting and operating blockchain technologies with a vision to become the leading Bitcoin-driven infrastructure platform. Shares were up 2.86% at $16.92 Tuesday morning.
CleanSpark is an energy company that transitioned its expertise to focus on Bitcoin mining in 2020. CleanSpark shares were up 4.76% at $18.71 at the time of publication.
$BTC, $ETH Price Action: At publication time, Bitcoin was up 1.27% over a 24-hour period at $52,745 and Ethereum was up 3.47% over a 24-hour period at $2,993, according to Benzinga Pro.
Photo: DUSAN ZIDAR from Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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