Bitcoin miners fall in October with only Riot, Galaxy, Core Scientific posting gains

Bitcoin miners fall in October with only Riot, Galaxy, Core Scientific posting gains
фото показано с : cryptoslate.com

2024-10-11 15:46

Bitcoin mining stocks have showed mixed results this October, with many falling more than Bitcoin, which has also recorded a modest 4.5% drop so far.

Ticker Sept. 30 ($) Oct. 10 ($) Gain/Loss (%) Company Name RIOT 7.42 7.74 4.3 Riot Platforms GLXY 17.36 17.70 2.0 Galaxy Digital CORZ 11.86 11.97 0.9 Core Scientific SATO 0.25 0.24 -4.0 Sato Technologies CIFR 3.87 3.67 -5.2 Cipher Mining MARA 16.22 15.23 -6.1 Marathon Digital Holdings DMGI 0.49 0.46 -6.1 DMG Blockchain Solutions HIVE 3.13 2.91 -7.0 HIVE Digital Technologies CLSK 9.34 8.66 -7.3 CleanSpark SLNH 3.13 2.88 -8.0 Soluna Holdings MIGI 1.24 1.13 -8.9 Mawson Infrastructure HUT 12.26 11.12 -9.3 Hut 8 Mining BITF 2.22 1.79 -19.4 Bitfarms

Co-founder of Power Mining Analysis, Anthony Power, highlighted that the only positive performers are Riot Platforms (RIOT), which increased by 4.3%, rising from $7.42 to $7.74. Galaxy Digital (GLXY) saw a 2% uptick, moving from $17.36 to $17.70, and Core Scientific (CORZ) edged up 0.9%.

On the downside, Bitfarms (BITF) declined 19.4%, falling from $2.22 to $1.79. Hut 8 Mining (HUT) decreased 9.3%, and Mawson Infrastructure (MIGI) dropped 8.9%. Other companies like Soluna Holdings (SLNH) and CleanSpark (CLSK) also experienced losses.

Bitcoin’s price fell 4.5% during the same period, starting at $64,311 and reaching approximately $61,401 as of press time. This decline impacts mining companies’ profitability, as their revenues are closely tied to Bitcoin valuations. The Bitcoin halving in April, which reduced mining rewards by half, may also influence miners’ operational strategies and financial performance.

Further, internal business, including corporate management issues and operational efficiency, are beginning to play a larger part in shaping the market’s perception of miners, as competition in the industry has never been greater.

The post Bitcoin miners fall in October with only Riot, Galaxy, Core Scientific posting gains appeared first on CryptoSlate.

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bitcoin riot october modest drop recorded far

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