2024

Bitcoin

<a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">Mining companies</a> <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms and <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> Digital have faced significant stock declines in 2024. Riot's shares dropped by 53%, while Marathon's fell by 44%.
Analysts attribute this to decreased mining profitability, caused by increased network difficulty and the lack of the expected Bitcoin price surge post-<a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>. Additionally, rising interest rates have made other investments more attractive.
Companies are seeking new survival strategies, including cost reduction and exploring additional revenue sources. Investors are cautious due to the volatility of the cryptocurrency market.

Mining Companies Riot and Marathon Stocks Drop 53% and 44% in 2024

Ultramining_Eng

Other articles published on Sep 23, 2024

Crypto Experts Analyze Future Altcoin Movements

FTX/Alameda Wallet Unstakes $24M SOL Amid Ongoing Investigations: Report

Bitgert, Solana, Ethereum Price Analysis: Which One Has the Most Bullish Momentum?

Binance Labs' New Investment: What is Hemi Network?

Tokens with Institutional investors support have had better performance such as TON and MOCA

Australia Cracks Down on Crypto With New Licensing Rules

Join our free newsletter for daily crypto updates!