Why CleanSpark, Riot Platforms, and BIT Mining Limited Are Rising This Week
Shares of several Bitcoin-mining companies rose this week, despite the price of Bitcoin falling, which isn't always such a common occurrence. Shares of CleanSpark (NASDAQ: CLSK) traded roughly 22% higher for the week as of noon Thursday, according to data from S&P Global Market Intelligence. Meanwhile, shares of Riot Platforms traded roughly 14% higher, and shares of BIT Mining Limited were up more than 15%.
Bitcoin miners and the price of Bitcoin tend to move in the same direction because Bitcoin is the asset that a lot of these companies mine and hold, although the mining companies tend to be more volatile.
Image source: Getty Images.
Source Fool.com
