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Decline in Bitcoin Miner Stocks Linked to Halving Concerns

Key Takeaways

  • Bitcoin mining stocks have dipped due to fears over profitability post-halving, however, these concerns are considered unfounded by analysts;
  • Leading miners like Marathon Digital and Riot Platforms have seen their stock prices drop by around 53% and 54%, with similar declines worldwide;
  • Analysts anticipate a recovery in mining stocks post-halving.
Decline in Bitcoin Miner Stocks Linked to Halving Concerns

Investor concerns regarding profitability after the Bitcoin (BTC) halving event, expected on April 20, have led to a drop in stock values of major BTC mining companies.

However, industry experts argue that such fears may be exaggerated.

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Several leading Bitcoin mining firms have experienced significant stock price declines since their peak earlier this year. Marathon Digital and Riot Platforms, two of the largest BTC miners, have seen their shares decrease by approximately 53% and 54%, respectively. Similarly, CleanSpark's stock dipped over 38% from a three-year high in March. 

The trend extends beyond the US, also affecting international firms like Singapore's Bitdeer Technologies and Australia's Iris Energy, which have seen 40.8% and 47.6% drops from their mid-February highs.

Mitchell Askew, the head analyst at Blockware Solutions, addressed the worries about profitability after the halving. He predicts that the halving, which will reduce the mining reward from 6.25 BTC to 3.125 BTC, will eventually benefit the sector.

He believes that post-halving, investors will see that their concerns were largely unfounded and expects mining stocks to bounce back.

The decreased stock prices can also be attributed to the recent drop in Bitcoin's value, which fell by over 7% within 24 hours leading up to April 24, triggering $319 million in liquidations.

Despite the immediate concerns and market reactions leading up to Bitcoin's halving, as it passes, the sector may see a rebound in stock values.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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