Why Bitcoin Mining Stocks Jumped on Monday

The value of Bitcoin mining related stocks jumped on Monday as the price of Bitcoin itself shot higher. At 3:30 p.m. ET the value of Bitcoin was up 7.3% over the last 24 hours and 17.4% over the past week. 

That's pushed shares of miners Riot Blockchain (NASDAQ: RIOT) as much as 15% higher and 10.3% up as of this writing. Competitor Hut 8 Mining (NASDAQ: HUT) was up as much as 13.6% and is now up 6.6%. And computing supplier Canaan (NASDAQ: CAN) was up 11.7% at its high and is currently 5.5% higher for the day. 

Image source: Getty Images.

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Source Fool.com