Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Crypto Mining

Activities of crypto mining firms(may 11 2022)

Following an abrupt start to the week, which saw most major bitcoin miners’ stock drop by double digits, many continued on a downward path during Wednesday’s trading session.

Hive Blockchain’s stock fell over 20% on Wednesday, following an announcement the company plans to consolidate shares by a 5 to 1 ratio on Tuesday afternoon after market close.

After posting results on their most recent quarter Tuesday, CleanSpark, Riot and Cipher were also down on the markets by -11.93%, -9.16% and -5.23%, respectively.

These market moves occurred against the backdrop of continued volatility in equities markets. The Nasdaq Composite closed Wednesday’s trading session down 3.18%. 

Bitcoin — which makes up a significant portion of some miners’ assets — has seen its value temporarily dip below the $30,000 mark since the start of the week. Bitcoin is trading at $29,106.43 on Coinbase as of press time.

Here is a look at how other crypto mining companies fared in the markets on Wednesday, May 11:

Bitcoin — which makes up a significant portion of some miners’ assets — has seen its value temporarily dip below the $30,000 mark since the start of the week. Bitcoin is trading at $29,106.43 on Coinbase as of press time.

Here is a look at how other crypto mining companies fared in the markets on Wednesday, May 11:

Featured

NFT

Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will...

Finance

Though the recent months haven’t been very good for the crypto industry, this could not deter some crypto investors from being bullish about this...

Altcoin

The down-trending market that took its resistance from $1.35134 on the 10th of September did not go too far before it begins to face...

Crypto News

Robinhood, a leading investment app, has rolled out its newest product — a crypto wallet that charges zero transaction fees to its users. For...