Why Bitcoin Mining Stocks Plunged on Wednesday
Shares of crypto miners took a nosedive during trading on Wednesday as the price of Bitcoin (CRYPTO: BTC) plummeted. At 4:15 p.m. ET, Bitcoin was down 4.95% in the last 24 hours, but it's down 6.2% since early this morning.
The impact on miners was swift. Riot Blockchain (NASDAQ: RIOT) fell as much as 13.1% today, Marathon Digital (NASDAQ: MARA) dropped 14.4%, and Hut 8 Mining (NASDAQ: HUT) fell 12.8%. The stocks closed the day down 12.1%, 13.2%, and 12.3%, respectively.
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Source Fool.com
