Bitcoin Marathon Digital, Riot and CleanSpark mining stocks are moving: what’s happening?
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Bitcoin Marathon Digital, Riot and CleanSpark mining stocks are moving: what’s happening?

Several Bitcoin (CRYPTO: BTC) mining stocks incl Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Platforms Inc (NASDAQ: RIOT) i CleanSpark sp (NASDAQ: CLSK) is trading lower on Tuesday as the price of Bitcoin falls. Here’s what you need to know.

What happened: Bitcoin miners and other cryptocurrency-related stocks are falling on Tuesday as the price of Bitcoin falls, triggering weakness in the broader crypto space. For most of the last month, Bitcoin has been hovering near all-time highs.

Cryptocurrency analysts expect some decline in the price of Bitcoin, which will lead to comments from the chairman of the Federal Reserve Jerome Powell this week. The Fed will receive its next inflation reading on Wednesday morning along with the latest Consumer Price Index data.

Monday also marked the first net outflow of spot Bitcoin ETFs in nearly three weeks. After 19 consecutive days of net inflows, investors withdrew money from Bitcoin ETFs. Grayscale’s Bitcoin ETF has reportedly seen an outflow of almost $40 million.

Marathon Digital is a digital asset mining company focused on the Bitcoin ecosystem. At press time, the company’s stock was down 3.19% to $18.85.

Riot Blockchain focuses on building, supporting and operating blockchain technology. Shares fell 2.78% to $9.62 on Tuesday morning.

CleanSpark is an energy company that shifted its expertise to focus on Bitcoin mining in 2020. At press time, CleanSpark shares were down 3.44% to $15.15.

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$BTC price action: According to Benzinga Pro, Bitcoin fell 3.34% in 24 hours to trade at $67,092 at press time.

Photo: Eivind Pedersen from Pixabay.

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