Bitcoin mining stocks saw spikes across the board ahead of halving event
Riot Platforms’ share price outpaced other mining firms in the last 24 hours of the trading week, coinciding with a new Texas mining facility announcement.
Several Bitcoin (BTC) mining firms listed on the Nasdaq stock exchange closed the trading week with a noticeable 24-hour increase in share prices in the lead-up to the Bitcoin halving event.
On April 20, Bitcoin celebrated its fourth-ever halving event, and the date was likely firmly marked in the calendars of Bitcoin mining firms as it can significantly disrupt business operations.
The halving event slashes miner rewards in half for every block they mine. The most recent halving cut down miners’ rewards from 6 BTC to 3.125 BTC per block mined.
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Author: Ciaran Lyons
