What's Going On With Bitcoin Miner Stocks Thursday?

Erica Kollmann

February 29, 2024

Bitcoin-mining stocks are pulling back Thursday following recent strength. Some stocks in the sector may also be down in sympathy with Marathon Digital Holdings, Inc. (NASDAQ:MARA) and as the recent Bitcoin rally cools Thursday.

What To Know:

Marathon Digital shares are trading down by more than 16%, leading the mining companies lower Thursday. The company reported mixed fourth-quarter results after the bell Wednesday, however, HC Wainwright & Co. maintained its Buy rating and raised the price target from $24 to $35 following the print.

As previously reported by Benzinga, Bitcoin miners' stocks have outpaced Bitcoin over the past month, possibly due to better-than-expected earnings results. The crypto-mining industry may be experiencing an outsized reaction to Marathon Digital's mixed fourth-quarter results and the subdued Bitcoin price action Thursday as Bitcoin trades around the $61,000 mark.

Some of the other Bitcoin mining stocks trading lower include Bitfarms Ltd. (NASDAQ:BITF), Cleanspark, Inc. (NASDAQ:CLSK) and Riot Platforms, Inc. (NASDAQ:RIOT).

Related News: Okta Stock Rises On Better-Than-Expected Q4 Results: EPS Beat, Revenue Beat, Upbeat Guidance

$BTC, MARA, BITF, CLSK, RIOT Price Action: According to Benzinga Pro, Bitcoin is down 2.42% over a 24 hour period at $60,904.58, Marathon Digital shares are down 15.3% at $26.29, Bitfarms shares are down 10.9% at $2.81, Cleanspark shares are down 10.3% at $16.21 and Riot Platforms shares are down 11% at $13.94 at the time of publication.

Image: Darwin Laganzon from Pixabay

Recommended

Oct 23: The Day Elon Changes Everything - Ad

The Tesla Shock Nobody Sees Coming - Ad

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

Popular

Dutch Supreme Court rejects Russia's final appeal in $50B Yukos case

THE HAGUE, Netherlands (AP) — The Dutch Supreme Court on Friday rejected a final appeal by against a $50 billion arbitration award to former shareholders of Russian oil giant Yukos, who claimed Moscow deliberately bankrupted the company more than 20 years ago.

Jamie Dimon Says You Can't Look At AI As A Bubble: 'People Should Stop...'

Jamie Dimon isn't buying the AI bubble hype, but he's not sugarcoating the fallout either.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Bitcoin Tumbles As Trump Reignites China Trade Tensions; Ethereum, XRP, Dogecoin Fall: Analyst Says BTC 'Must' Reclaim This Level Or Drop Below $100K

The comeback rally was short-lived as President Donald Trump’s latest trade barb against China sent leading cryptocurrencies lower on Tuesday.

Dave Ramsey Doesn't Mess Around With Bitcoin Or Gold, Says 'I Have Three Investments' — Here's What They Are

Personal finance expert Dave Ramsey has long dismissed crypto, gold and single-stock investing, calling them risky distractions — but new research shows that his disciplined mutual fund approach may have cost him market-beating returns.

Elon Musk Recently Bought $1 Billion Worth of Tesla Shares.

Elon Musk Recently Bought $1 Billion Worth of Tesla Shares. - Ad

That's his biggest personal buy in 5 years. My research suggests he's doing it ahead of Tesla's launch of the Optimus robot... An AI-powered robot that Elon himself calls "the biggest product ever of any kind." But here's the thing: Tesla is already a trillion-dollar company. Unless you've got $1 billion like Elon, buying Tesla stock is probably not the best way to play the Optimus launch. That's why I've uncovered a "backdoor" Optimus play most Americans don't know about...

Magnolia Oil & Gas Gets Upgrade On Strong Finances, Brighter Oil Outlook

KeyBanc raised Magnolia Oil & Gas to Overweight with a $29 target, citing a defensive profile and disciplined growth outlook.

This CEO Once Said 'No' To Peter Thiel — Years Later, He Had A Face-Palm Moment When That 'Mistake' Cost Him $200 Million In Palantir Equity

Y Combinator CEO Garry Tan revealed that declining Peter Thiel's early offer to join Palantir Technologies cost him an estimated $200 million in equity — a decision he now calls his most painful career lesson as Palantir's value has soared past $425 billion.

November 18: D-Day For The Dollar

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

Praxis Precision Medicines Stock Doubles - Here's Why

Praxis stock jumps after Phase 3 trials show ulixacaltamide significantly improves essential tremor symptoms and meets key efficacy endpoints.

USA Rare Earth (USAR) Stock Is Rising Today: Here's Why

Shares of USA Rare Earth, Inc. (NASDAQ: USAR) are trading higher Monday amid a wave of optimism for rare earth materials companies.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Oct 23?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Oct 23? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as October 23rd... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

Australian Oilseeds Holdings Shares Soar 248% After Hours Amid Trump Says US Will Make Its Own Cooking Oil

Australian Oilseeds Holdings surged 248% after Trump's trade threat against China sparked a rally in agricultural biotech stocks.

Mark Cuban Shares His Top Strategies for Protecting Wealth After Hitting Millionaire Status

Mark Cuban once disclosed his strategies for preserving wealth after becoming a millionaire. These insights could be beneficial for anyone aiming to secure their financial future.

Here's Your Rare "Second Chance" Starting October 23rd

Here's Your Rare "Second Chance" Starting October 23rd - Ad

Missed Bitcoin, Nvidia, or Tesla? Jeff Brown - the tech insider who called them early - says your second chance is here. On October 23rd, a new AI breakthrough could launch a market 14X bigger than the ChatGPT boom. And you can get in for as little as $50.

Trump Says He Wasn't Happy India Was Buying Russian Oil And Now Modi Has Agreed To Stop Doing It: 'Big Step'

President Donald Trump has said that Indian Prime Minister Narendra Modi has agreed to halt his country's purchase of Russian crude oil, a move that could have a significant impact on Moscow's ongoing war in Ukraine.

Jeff Bezos Owned 43% Of Amazon At IPO — Now He's Down To 9%

Jeff Bezos has lowered his stake in Amazon.com stock substantially in recent years. Here's how much he owns now.

This Is the "End of Tesla" as We Know It...

This Is the "End of Tesla" as We Know It... - Ad

Think Tesla's finished? You're right-but not how you think. Jeff Brown, who called Tesla in 2018 before its 2,150% surge, says a hidden AI breakthrough is about to transform Tesla forever-and spark a brand-new 25,000% growth market overnight.

Mysterious drone flights in NATO airspace have caused alarm across Europe. Here's what we know

BERLIN (AP) — Mysterious drone flights over the airspace of European Union member countries in recent weeks have alarmed the public and elected officials.

Slovak leader announces a deal with US on a new nuclear reactor

BRATISLAVA, Slovakia (AP) — Slovakia’s populist Prime Minister Robert Fico said Tuesday his government has approved an agreement with the United States to build an additional nuclear reactor.

Elon's $25 Trillion Confession

Elon's $25 Trillion Confession - Ad

Elon Musk: "Tesla will become a $25 trillion company." That would make Tesla 8x bigger than Apple today. How is that possible? He admits it's all thanks to this one AI breakthrough that will take AI out of our computer screens and manifest a 250x boom here in the real world.

Why American Airlines (AAL) Stock Is Falling Thursday

Shares of American Airlines are trading lower Thursday afternoon in sympathy with competitor United Airlines.

Ontario premier criticizes Trump after Stellantis says it will move production from Canada to the US

TORONTO (AP) — The leader of Canada's most populous province called for economic retaliation on the U.S. after auto company Stellantis said it was moving planned production of its Jeep Compass from Canada to the U.S.

Oct 23: The Day Elon Changes Everything

Oct 23: The Day Elon Changes Everything - Ad

Mark your calendar: October 23, 2025. That's the date I believe Elon Musk could finally unveil his Optimus robot - the same project he says will be "the biggest product ever of any kind." If Elon is right, this could be a $30 trillion tipping point...And regular investors have a rare window to move before the switch flips.

Silver Nears $50 Amid Inventory Crisis, Outpacing Gold

Silver prices closed last week at multi-year highs, coming within reach of their 2011 peak of $49.95 per ounce.

BlackRock To Launch Revamped Money Market Fund For Serving Stablecoin Issuers

BlackRock introduces redesigned money market fund, BSTBL, for stablecoin issuers under newly enacted GENIUS Act. Complements broader digital asset strategy.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as October 23rd.

Ethereum Crashes To $4,100 As Senate Democrats Take Aim At DeFi

Ethereum (CRYPTO: ETH) is trading near $4,100 on Friday, after a sharp selloff that followed its rejection from $4,700 and renewed fears of U.S.

Judge temporarily blocks the Trump administration from firing workers during the government shutdown

SAN FRANCISCO (AP) — President Donald Trump’s administration for now must stop firing workers during , a federal judge ordered on Wednesday.

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system...

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

TrueCar (TRUE) Stock Soars On Go-Private Buyout Deal

TrueCar shares are trading higher Wednesday afternoon after the company announced it will be acquired by a founder-led strategic investor group.

EPAM Joins Oracle To Boost AI And Cloud For Businesses

EPAM deepens partnership with Oracle to help companies in various sectors adopt OCI and AI services, leveraging their expertise.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

NIO Stock Soars Past 52-Week High After Record Deliveries

NIO stock rises on strong September and Q3 deliveries, reaching record numbers and surpassing 52-week high.

Domino's Growth Outlook Intact Despite Softer Q4 Trends, Analysts Say

Domino's Pizza Inc. (NYSE: DPZ) exceeded expectations and maintained 2025 guidance. TD Cowen and BTIG maintain Buy ratings.

Elon Musk Recently Bought $1 Billion Worth of Tesla Shares.

Elon Musk Recently Bought $1 Billion Worth of Tesla Shares. - Ad

Supreme Court Hands Trump A Major Win, Allows $4 Billion In Foreign Aid Freeze To Stay In Place As Congressional Deadline Looms

The Supreme Court has granted the Trump administration permission to keep $4 billion in foreign aid frozen, overriding a lower court's order for immediate spending.

Mark Cuban Says AI Race Explains Musk, Zuckerberg and Dell Support for Trump

Mark Cuban says that the backing of President Donald Trump by Big Tech is more about staying ahead in the AI race than political alignment.

November 18: D-Day For The Dollar

November 18: D-Day For The Dollar - Ad

Macron says a tanker off France is linked to Russia's shadow oil fleet

PARIS (AP) — French President Emmanuel Macron said Wednesday that an oil tanker off the French coast had committed “very serious wrongdoings” and linked it to , which is avoiding Western sanctions over Moscow's war in Ukraine.

Trending Now