Cryptocurrencies
Bitcoin Miners Fall Even as CEOs Say They’re Ready for Halving
- Crypto-mining stocks decline as the Bitcoin halving nears
- Miners are ready for sharp revenue loss after event, CEOs say
Mining units at a Bitcoin mining facility in Fort Stockton, Texas.
Photographer: Jordan Vonderhaar/BloombergBitcoin miners are seeing a sharp decline in their stock prices as a code update for the largest cryptocurrency that will drastically reduce revenue is set to happen later this week.
Shares of Marathon Digital Holdings Inc., Riot Platforms Inc. and CleanSpark Inc. all fell for at least a third consecutive day on Tuesday. The Valkyrie Bitcoin Miners exchange-traded fund has tumbled by around 28% this month.