Why Bitcoin Miners Dropped Like Rocks Today

Bitcoin miners took a nosedive on Monday morning following a bad weekend and rough Monday morning for Bitcoin (CRYPTO: BTC) and other cryptocurrencies. The downturn in the market has been taking place for a while, but accelerated late last week. 

Hut 8 Mining (NASDAQ: HUT) fell as much as 15.8% early and is down 6.5% at 1:30 p.m. ET. Hive Blockchain Technologies (NASDAQ: HIVE) dropped 17.6% and is currently down 8.2%, while Marathon Digital Holdings (NASDAQ: MARA) fell 11.9% and is now off only 1.2%, and Bit Digital (NASDAQ: BTBT) plunged 17.9% and is currently down 9.8%. 

Image source: Getty Images.

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Source Fool.com