Bitcoin Mining Stock Report: Tuesday, November 22
Quick Take
- Share prices for most bitcoin miners rose today after days of continuous decline.
- TeraWulf declined by 16% and Core Scientific fell by 20% after stating that it has “substantial doubt” whether it could keep operations going past November 2023.
More than half of the bitcoin mining stocks tracked by The Block increased, while others declined by double digits.
TeraWulf's stock declined by 16% and Core Scientific's stock fell by 20% after an SEC filing showed that the latter has “substantial doubt” whether it could keep its operations going past November 2023.
"The ability to raise funds through financing and capital market transactions is subject to many risks and uncertainties," the filing said. Last month, the miner had already warned that it might run out of cash by the end of the year and that it would not make payments in late October.
Bitcoin was trading at around $16,100 by market close, according to data from TradingView, up nearly 2% since yesterday's close. Earlier in the day, however, bitcoin was trading at its lowest rate in months, reaching around $15,500.
RELATED INDICES
Digihost's shares rose by 7.25%, followed by Bitfarms Canada (6.58%) and CleanSpark (6.44%).
Here's how crypto mining companies performed on Tuesday, Nov. 22:
© 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.
