Bitcoin mining stock report: Wednesday, August 10

Quick Take

  • Share prices for most bitcoin miners rose on Wednesday.
  • CleanSpark’s stock was up by 27.78%, a day after the miner released its second-quarter earnings.

Bitcoin mining stocks showed significant recoveries Wednesday following a more negative day.

Bitcoin prices shot up past $24,000, after data released by the U.S. Bureau of Labor Statistics showed inflation in the US was 8.5% in July compared with last year, indicating inflation might be slowing down.

By market close, bitcoin was trading at around $32,600, according to data from TradingView.

CleanSpark was up by 27.78% since market close Tuesday, when it released its second-quarter earnings report. The company posted $29.3 million in net losses and announced that it is exiting the energy business.

Marathon (which released earnings on Monday) saw its stock rise by 15.95%, followed by Core Scientific (14.84%) and Bit Digital (13.42%).

Here's how crypto mining companies performed on Wednesday, August 10:

© 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.