With Bitcoin booming, keep an eye on mining stocks.

That’s because as Bitcoin pushes higher, the miners typically follow.  In fact, with Bitcoin rallying about $9,000 higher over the last week, it came as no surprise that mining stocks, like Marathon Digital, Riot Platforms, or HIVE Blockchain went along for the ride.

All with cryptocurrencies showing big signs of life with the latest banking crises, with Silicon Valley, First Republic, and now Credit Suisse. As noted by Coindesk.com, “As the banks fail, opt out and buy bitcoin. That narrative is strong enough to propel the price.”

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If Bitcoin investing isn’t for you, consider the miners, such as Marathon Digital—which just announced “We successfully energized nearly 19,000 Bitcoin miners across multiple facilities in February, with over 8,000 of these units consisting of S19 XPs,” said Fred Thiel, Marathon’s chairman and CEO. “During the month, we increased our hash rate to 9.5 exa-hashes, a 30% increase from the prior month. We also increased our average bitcoin produced per day by 10% compared to January, producing 683 Bitcoin in February.”


Ian Cooper