Most bitcoin mining stocks posted losses during Thursday’s trading session, as bitcoin’s value fell below $23,000.
The coin was trading at around $22,500 at the time of publication, according to data from TradingView.
SAI.TECH and Core Scientific’s stocks were down by double digits — 11.57% and 10.54%, respectively.
Other companies, like Argo and Cipher Mining, still saw their stocks rise by 4.88% (on the London Stock Exchange) and 4.48%, respectively.
The bitcoin mining network difficulty recovered by 1.74% according to the latest update on Thursday.
Here’s how crypto mining companies performed on Thursday, August 4:
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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).