Why Crypto Miners Hut 8, Riot Blockchain, and Bitfarms Are Surging Today
Crypto miners Hut 8 Mining (NASDAQ: HUT), Riot Blockchain (NASDAQ: RIOT), and Bitfarms (NASDAQ: BITF) are on fire today. As of 3:45 p.m. ET, these top cryptocurrency miners surged 13.3%, 10.9%, and 9.8%, respectively, since yesterday's close.
Unsurprisingly, these moves closely align with Bitcoin's (CRYPTO: BTC) price action, which has seen this token rocket 10.5% over the past 24 hours as of 3:45 p.m. ET.
Bitcoin's rally off of this week's lows, which saw the world's largest cryptocurrency by market capitalization sink to below $19,000 per token once again, is driving interest in Bitcoin-related stocks. It appears market-related sentiment is shifting toward risk taking, as investors brush off concerns around interest rate hikes and look forward to declining inflation and more accommodating monetary policy over the medium term.
Source Fool.com
