Best CRYPTO MINING Stocks! Worth buying? Analysis + 2023 price predictions.

Contents

Mining stocks rise after bitcoin rally

Mining stocks rise after bitcoin rally
CONTENT

  • Shares of mining companies have risen sharply in price after the rise in the value of military-technical cooperation

  • Companies are going to increase computing power

  • Russia has become more active in the crypto mining market

International consortium of news organizations, developing transparency standards.

Bitcoin mining stocks skyrocket after Bitcoin hit $ 28,000.

Mining company shares rise in price faster than bitcoin

Immediately after the price of bitcoin hit record highs above $ 28,000, the shares of two large mining companies began to rise sharply in price. Thus, Riot Blockchain shares climbed 18% and traded at $ 15.49, while Marathon shares soared 28% to $ 14..

Both companies have previously stated that they are preparing to buy several thousand more miners to increase their computing power. In the near future, Riot Blockchain will acquire an additional 15,000 miners. And Marathon is ready to buy 70,000 miners worth over $ 170 million from Bitmain. The company said that after the completion of the transaction, it will have more than 103,000 miners.

Russia has become more active in the crypto mining market

Despite the fact that after the third halving, the complexity of the calculations increased, and the rewards for the mined block were halved, the mining market continues to develop.

Mining stocks rise after bitcoin rally

Today, China, Mongolia and Kazakhstan remain the centers of cryptocurrency mining. However, Russia has seriously intensified this year.

Nangeng Zhang, founder and CEO of the Chinese mining device manufacturer Canaan Creative (Canaan), believes that Russia is actively developing in the cryptocurrency mining market. In the long term, the country is able to squeeze China. The head of Canaan wrote about this in the author’s column Nasdaq.

Russia really has every chance of becoming a leader in the extraction of cryptocurrency.

Mining stocks rise after bitcoin rally

Cheap electricity and cool climate create ideal conditions for mining.

Mining stocks rise after bitcoin rally

However, while the country’s leadership is in no hurry to develop this direction on an industrial scale, and home mining is considered ineffective.

Obviously, miners prefer countries not only with cheap electricity, but also with suitable climatic conditions.. Previously edited by BeInCrypto reported that mining companies are eyeing the Scandinavian countries. They are attracted by cheap electricity and the opportunity to save on cooling systems..

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