👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Bitcoin Mining Stocks Fall as BTC Slides

Published 12/28/2021, 11:35 AM
Updated 12/28/2021, 11:37 AM
© Reuters.
RIOT
-
MARA
-
BTC/USD
-
BTBT
-
HUT
-
FUBO
-

By Sam Boughedda

Investing.com — Shares of Bitcoin mining stocks are down Tuesday as Bitcoin hit a low of $48,355 earlier in the session.

While the move in Bitcoin is not particularly significant, considering past price action, Bitcoin miners are, of course, susceptible to any change in the price of the cryptocurrency.

Riot Blockchain Inc (NASDAQ:RIOT) shares are currently down more than 9%. However, the stock has faced added pressure on Tuesday after Roth Capital analyst Darren Aftahi lowered its price target to $46 from $55. Aftahi told investors that Riot had benefitted from a "stay-at-home" premium, but that was now waning — something he also said about FuboTV (NYSE:FUBO) in a separate note.

Elsewhere, Marathon Digital Holdings Inc (NASDAQ:MARA), which is currently being sued for potential securities law violations, is down 11%, now trading under the $35 mark. Bit Digital Inc (NASDAQ:BTBT) has fallen over 8% so far in Tuesday's session, while Hut 8 Mining Corp (NASDAQ:HUT) has declined 10%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.