ICYMI: cryptocurrency mining stocks have lost more than half of their value since November Bitcoin BTC $BTC
, the price of Bitcoin recently reached a year-to-date peak of $48,234 on the Bitstamp exchange.
Yet, publicly listed cryptocurrency firms are struggling to benefit from the recent rally. Cryptocurrency mining stocks have taken the harshest beating, with their shares losing more than half of their value since November.The stock of Bitcoin mining company Stronghold Digital recently plunged by more than 30% after a painful revenue miss that caught some shareholders off guard.
Shares of Bit Digital, Hut 8 Mining Corp and other prominent mining companies are down more than 20% since the start of the year despite the fact that the price of Bitcoin briefly turned green over the same period of time. Shares of Bitcoin-focused business intelligence firm MicroStrategy are also down more than 10% on a year-to-date basis. The stock is also down roughly 41% from its November peak of 860%. That said, the company keeps doubling down on its unyielding support for the largest cryptocurrency. As
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kitchen table Bitcoin: How should average investors approach crypto?Crypto adoption is growing, but that doesn't mean there isn't a learning curve for new investors. These simple tips will ensure you won't sink when dipping your toe into the world of cryptocurrency.
Read more »
DCG Mining Subsidiary Foundry Joins Texas Blockchain Council to Help Shape Crypto Public Policy – Bitcoin NewsThe DCG mining subsidiary, Foundry Digital, announced the company has joined the Texas Blockchain Council (TBC).
Read more »
MicroStrategy subsidiary will purchase Bitcoin after closing $205M crypto-collateralized loanBusiness intelligence firm MicroStrategy's subsidiary MacroStrategy said it will be using the proceeds of a crypto-collateralized loan from Silvergate Bank to purchase Bitcoin, pay fees and interest related to the loan, and handle general corporate expenses.
Read more »
Wisdomtree Launches 3 Crypto ETPs Offering Exposure to Solana, Cardano, Polkadot – Bitcoin NewsOn Tuesday, the fund manager Wisdomtree announced the launch of three crypto asset exchange-traded products (ETPs).
Read more »
Argentinian Tax Agency Amps Up Scrutiny for Crypto Traders and Holders With New Requirements – Bitcoin NewsThe AFIP, the Argentinian tax watchdog, has decided to take the battle against cryptocurrency tax evasion directly to users of these assets.
Read more »