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Why Cryptocurrency Mining Stocks Took a Hit This Week

Jon Quast, The Motley Fool
·3-min read
Why Cryptocurrency Mining Stocks Took a Hit This Week

It was an eventful week for cryptocurrency mining stocks, with both Riot Blockchain (NASDAQ: RIOT) and Bit Digital (NASDAQ: BTBT) giving operational updates. From the close of the market last Friday to the close of the market on Thursday, Riot Blockchain stock was down 24%, Bit Digital stock was down 17%, SOS stock was down 19%, and CleanSpark stock was down 20%, according to data from S&P Global Market Intelligence. The transition is well underway with all of its mining machines now either in North America or in transit.

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