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-0.00263377609108166 -0.000759013282732432 -0.00151802656546486 -0.00872865275142316 0.00683111954459202 0.00986717267552188 0.0603415559772296 0.0694497153700189
Stock impact report

Bitcoin Mining Stocks Dive as BTC Price Drops 20% in a Week [Yahoo! Finance]

Cipher Mining Inc. (CIFR) 
Company Research Source: Yahoo! Finance
Major BTC mining firms MARA Holdings (MARA) and Riot Platforms (RIOT) have seen their shares dip 11.6% and 10% respectively on the day to $7.99 and $13.78. Meanwhile, Hut 8 (HUT) and Cipher Mining (CIFR) have fallen even further, dropping nearly 14.3% and 20.76% since the opening bell to $50.60 and $12.92, respectively. The miners' drop comes amid weakening Bitcoin price action. The top crypto asset has fallen more than 4% in the last 24 hours, extending its weekly losses to almost 20%. Other top coins have fallen harder, with Ethereum showing a roughly 30% weekly dive to $2,113 and Solana down about 28% at a recent price of $90. Further losses may be in store for Bitcoin too, as Galaxy Head of Research Alex Thorn suggested this week that its structural weaknesses and lack of catalysts may push the price closer to its 200-week moving average of $58,000. The falling price has impacted the profitability of miners as well, with the miner profit-to-loss sustainability ratio hitting Show less Read more
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