Riot Platforms, MicroStrategy and Other Bitcoin Stocks Gain 10%-20%+ Following 'Halving' Event

Jerry Kronenberg joined discussion · Apr 22 14:59

$Riot Platforms(RIOT.US)$, $MicroStrategy(MSTR.US)$ and other crypto-mining stocks soared 10% to 20% or more Monday aa $Bitcoin(BTC.CC)$ rose following the conclusion of the cryptocurrency's latest "halving" event.

BTC gained $1,751.65 (2.7%) to trade at $66,454.60 shortly before 4 p.m. ET as the cryptocurrency wrapped up its long-awaited "halving," where the premium that crypto-miners get for creating new Bitcoins drops by 50%.

Halving happens roughly every four years to limit to supply of Bitcoins in the marketplace. The latest halving event occurred Friday night after months of market anticipation.

The event's conclusion and Bitcoin's modest rally Monday helped drive up the stocks of many Bitcoin-mining firms. Riot Platforms led the way higher, gaining 21% to $11.04 a share shortly before 4 p.m. ET.

Other major percentage gainers heading toward 4 p.m. ET included:

-- $Cipher Mining(CIFR.US)$, up 17.3% to $4.50

-- $Hut 8(HUT.US)$, which gained 14.5% to $9.22

-- $TeraWulf(WULF.US)$, ahead 12.2% to $2.57

-- $MicroStrategy(MSTR.US)$, +12.1% at $1,315.56

-- $Iris Energy(IREN.US)$, which added 11.6% to $5.52

-- $CleanSpark(CLSK.US)$, which rose 10.6% to $19.03

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