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Bitcoin Mining-Related Stocks Languish in Bear Zone amid Fears of Post-halving Profitability
The Bitcoin halving 2024 event is less than three days away, with only 2,375 BTC remaining to be mined until the next block half. Trading around $63,492 on Wednesday, Bitcoin price has been retesting the lower border of the horizontal consolidation range between $61,400 and $72,000.
The recent Bitcoin price drop has also impacted the crypto-related mining stocks, amid concerns of profitability post-halving.
Bitcoin Mining-Related Stocks Dips
Despite the impressive Bitcoin performance in the first quarter, Marathon Digital Holdings Inc (NASDAQ: MARA) stock has dropped more than 34 percent in the past four weeks to trade around $14.74 on Wednesday. Riot Platforms Inc (NASDAQ: RIOT) stock has fallen over 47 percent YTD to trade around $8.14 at the time of this report.
Similarly, CleanSpark Inc (NASDAQ: CLSK) shares dropped 28 percent in the past four weeks to trade at abou
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