Stocks of some of the top public-listed Bitcoin mining companies have seen a sharp decline as we are just three days away from the much-awaited Bitcoin halving event scheduled on April 20. The upcoming Bitcoin halving revenue will drastically reduce revenue by cutting miners’ rewards in half. As a result, the mining companies’ stocks are already facing the heat for the same.
Bitcoin Mining Firms Face the Heat of Halving
Shares of top Bitcoin miners such as Marathon Digital Holdings Inc., CleanSpark Inc., and Riot Blockchain Inc., have all experienced declines for the third consecutive day as of Tuesday. Additionally, the Valkyrie Bitcoin Miners exchange-traded fund (ETF) has witnessed a decline of approximately 28% this month.
Furthermore, the rising geopolitical tensions over the weekend, have fostered a risk-off sentiment among investors. However, despite these challenges, the chief executives of these companies remain optimistic. They highlight factors such as low-cost operation
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