Marathon Digital and Other Crypto Stocks Rally Ahead of 'Halving,' but Bit Origin Sinks 18%+

Jerry Kronenberg joined discussion · Apr 19 13:21

$Marathon Digital(MARA.US)$, $Riot Platforms(RIOT.US)$ and other crypto-mining stocks rallied Friday on rising bitcoin prices amid the cryptocurrency's imminent "halving" event -- although small-cap player $Bit Origin(BTOG.US)$ bucked the trend and fell some 18%.

BTOG – which only has about a $15.4 market capitalization -- sank 18.1% to $2.44 shortly after 2 p.m. ET despite no apparent news.

However, other bitcoin-related stocks generally rose as $Bitcoin(BTC.CC)$ itself added 1.7% to $64,440.21 as of just after 2 p.m. ET.

The cryptocurrency gained ground ahead of its "halving" event, where the premium that crypto miners get for creating new bitcoins will drop in half. The halving event will happen whenever the total number of bitcoins in existence reach a certain level, which market markets expects will happen any day now.

Crypto-mining stocks rising Friday afternoon included:

-- $Marathon Digital(MARA.US)$, up 10.3% to $16.57

-- $Riot Platforms(RIOT.US)$, ahead by 9.1% at $9.04

-- $CleanSpark(CLSK.US)$, gaining 8% to $17.52

-- $Bitdeer Technologies(BTDR.US)$, up 6.4% at $6.06

-- $Cipher Mining(CIFR.US)$, +6.3% at $3.91

-- $TeraWulf(WULF.US)$, 6.1% higher at $2.26

-- $Iris Energy(IREN.US)$, gaining 5.9% to $4.96

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