Bitcoin mining stock report: Tuesday, June 7
A large number of bitcoin miners saw their stocks fall on Tuesday.
Cipher Mining, Argo Blockchain and Iris Energy posted some of the largest drops — -7.80%, -5.31% and -4.72%, respectively.
Argo announced on Tuesday that it mined 25% less bitcoin in May due to factors like network difficulty and pool rewards.
Network difficulty increased by 5.56 % on April 27 and 4.89% on May 11, but more fell back down by -4.33% on May 25, according to BTC.com.
Iris Energy, on the other hand, mined 10% more bitcoin in May than in the month before, according to its latest monthly update.
Here's how crypto mining companies performed on Tuesday, June 7:
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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).
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