Crypto mining firms experienced strong trading volumes on American exchanges on Monday, with some mining shares even surpassing well-known U.S. tech giants. The combined trading volume of four mining firms — Marathon Digital, Riot Platforms, Cleanspark, and Terawulf — reached $208 million on Jan. 8, according to data from Yahoo Finance.
Marathon Digital (MARA) emerged as the top-traded stock in the United States on the day, with a trading volume of $112 million. This placed the Bitcoin miner ahead of Tesla, AMD, Nvidia, and Apple by a significant margin. Tesla, the second most traded stock in the U.S. on Monday, had a daily trading volume of around $85 million.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) traded close to half a billion on Jan. 8, which is more than 99% of the 3,000 current ETFs, as noted by industry expert Eric Balchunas. He highlighted that the anticipated approval of spot Bitcoin ETFs this week would bring significant volume to the market. Grayscale is hoping to convert or “uplist” its fund to a spot ETF, pending approval from the Securities and Exchange Commission.
Marathon’s strong performance comes amid a broader boom in the Bitcoin mining sector. On Jan. 8, Core Scientific secured a $55 million equity investment as it emerged from its debt crisis. The $55-million equity offering expired last week and was oversubscribed. The firm plans to relist on the Nasdaq exchange after bankruptcy proceedings are finalized, joining the high-performing mining stocks this week.
In addition, CleanSpark announced a strategic agreement that could see it purchase up to 160,000 miners by the end of 2024.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Eric Balchunas |
| Companies | Terawulf, Yahoo Finance, CleanSpark, Cleanspark, Riot Platforms, Apple, Nvidia, Marathon Digital, Securities and Exchange Commission, Core Scientific, AMD, Tesla, Grayscale’s Bitcoin Trust |
| Currencies | Bitcoin |
| Securities | Terawulf, Cleanspark, Riot Platforms, Marathon Digital, Tesla |
