Why Crypto Mining Stocks Like Riot Platforms Slumped Today
Is the latest cryptocurrency rally fading? Investors were right to ask that question on Thursday, as the recent pops seen in the prices of numerous coins and tokens appeared to fade into more modest gains. On top of that, the share prices of several crypto miner stocks had minus signs before their daily performances on the day.
This group of segment decliners included Riot Platforms (NASDAQ: RIOT) and peer Hut 8 Minings (NASDAQ: HUT), which both fell at marginal rates under 1%. A more meaningful decline was recorded by Cleanspark (NASDAQ: CLSK) -- the value of that company saw a nearly 6% drop.
There wasn't much news coming from any of those three companies. Hut 8 did announce that the Securities and Exchange Commission (SEC) declared the company's registration statement effective. This document is part of the process under which the crypto miner will merge with privately held US Bitcoin Corp.
Source Fool.com
