Most bitcoin mining stocks went up on Wednesday as the coin rose above the $200,00 mark.
Bitcoin was priced at around $20,200 at market close, according to data from TradingView.
The network’s mining difficulty jumped by 9.26% in the largest increase since January, according to an update on Wednesday.
The growth in hash rate is due to “a combination of heat waves finally subsiding (on a global level) and facilities slowly coming online,” said Kevin Zhang, senior vice president of mining strategy at Foundry, which runs the Foundry USA mining pool. “There’s also the added kicker of the higher efficiency Bitmain S19 XP’s finally hitting the market as well!”
Argo’s stock rose by 16.67% on the London Stock Exchange, followed by Hive (+4.52% on the Toronto Stock Exchange), Riot (+4.06%) and Bitfarms (3.57% on the Toronto Stock Exchange).
Here’s how crypto mining companies performed on Wednesday, August 31:
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