Most bitcoin mining companies were up in the stock market on Tuesday, with the coin's value reaching over $23,500 in the afternoon.
Iris Energy, Hut 8 and Bitfarms' stocks were among the most well-performing, going up by 19.70%, 10.60% (on Nasdaq) and 10.05% (on the Toronto Stock Exchange), respectively.
Riot announced in the morning that it mined 28% less bitcoin month-over-month in July, as it powered down operations amid extreme heat in Texas. However, the company also got $9.5 million in power credits. By the end of the trading session, Riot was up by 4.77%.
CleanSpark's stock rose by 2.43%, after the company announced that it generated roughly $8.8 million from the sale of 426 BTC in July.
Here's how crypto mining companies performed on Wednesday, August 3:
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.