- IREN and Applied Digital stocks increased, boosting market interest.
- IREN, Applied Digital up over 8%, Terawulf, Bitfarms 3% gain.
- Rising stocks reflect investor confidence in mining sector.
On January 24, US-listed cryptocurrency mining stocks, including Iris Energy and Applied Digital, saw notable gains, with both stocks rising over 8%, according to Bitget data.
The stock increases reflect growing investor interest in cryptocurrency mining operations, potentially influencing market trends and Bitcoin’s performance.
Crypto Miners Outperform Amid Volatility, Attain 8%+ Gains
US-listed crypto mining stocks recorded notable gains as reported by Bitget on January 24, with IREN and Applied Digital seeing increases exceeding 8%. This rise highlights the sector’s resilience and ability to capture market interest. For those seeking more details, Crypto Insights: Latest on blockchain trends and analysis offers further context on current trends in the sector.
The increase in valuations came despite ongoing volatility in broader crypto markets, suggesting targeted investor confidence in companies focused on sustainable operations. This aligns with growing market interest in renewable energy-powered mining initiatives.
“It appears there are no specific quotes or statements available from key players regarding the current news on US-listed crypto mining stocks,” noted the Coincu research team.
Bitcoin’s Market Cap Reaches $1.79 Trillion Despite Regulation Scrutiny
Did you know? In the previous year, Terawulf shares had seen a surge in late summer, indicating a possible correlation between seasonal market optimism and performance spikes in crypto mining stocks.
Bitcoin (BTC), trading at $89,513.57, maintains a market cap of $1.79 trillion and dominates 59.19% of the cryptocurrency market, according to CoinMarketCap. Market Update: Key stats and developments in cryptocurrency today provides additional insights into these market dynamics. Its 24-hour trading volume surpassed $39.49 billion, reflecting an 8.73% spike. Over a 24-hour period, Bitcoin’s value rose by 0.39%, but decreased 6.08% over the past week, marking ongoing volatility for leading digital assets.
The Coincu research team notes ongoing regulatory scrutiny in the crypto mining sector could impact future growth. Yet, the current market trend underscores strong investor interest in firms prioritizing sustainable operations, hinting at a possible long-term growth trajectory for these entities.
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Source: https://coincu.com/markets/crypto-mining-stocks-rise-momentum/