Bitcoin Mining Stocks MARA, CleanSpark, Riot Are Moving Higher: What's Happening?
Shares of Bitcoin (CRYPTO: BTC) mining stocks are moving higher Thursday as Bitcoin continues to climb to record levels.
What To Know: MARA Holdings (NASDAQ:MARA), CleanSpark Inc. (NASDAQ:CLSK) and Riot Platforms Inc. (NASDAQ:RIOT) shares are moving higher in tandem Thursday. The gains are part of a broader rally in crypto-related equities as Bitcoin extends its surge above $113,000.
Bitcoin was up 3.68% over a 24-hour period, trading at approximately $113,604 at the time of writing, per Benzinga Pro.
The move comes amid a sharp rise in institutional interest and a wave of short liquidations in the crypto market. Data from Coinglass shows that over $300 million in short positions were wiped out after Bitcoin pushed through the $112,000 level. Blockchain analysts have also pointed to large wallet inflows, often linked to institutional buyers, reinforcing the idea that this rally is driven by more than just retail speculation.
The renewed strength in Bitcoin has reignited interest in mining stocks, which typically track Bitcoin prices closely due to their underlying holdings. Higher Bitcoin prices improve miner margins, especially for firms with efficient operations like CleanSpark and Marathon. Riot has also seen stronger sentiment as investor focus shifts back to infrastructure providers in the digital asset space.
MARA, CleanSpark and Riot release mining metrics on a monthly basis. Here’s a look at how the miners stacked up last month.
MARA Holdings produced 713 Bitcoin in June, down 25% on a month-over-month basis. The company held a total of 49,940 as of June 30 after opting not to sell any of its holdings during the period.
CleanSpark produced 685 Bitcoin last month, down narrowly from 694 Bitcoin mined in May. The company held a total of 12,608 self-mined Bitcoin as of the end of June after selling 578.51 Bitcoin during the month.
Riot said it mined 450 Bitcoin in June, down 12% from 514 mined in May. The company held 19,273 Bitcoin as of the end of the month after selling 397 Bitcoins during the period.
Price Action: MARA Holdings shares were up 3.12% at $19.04, CleanSpark shares were up 2.77% at $12.82 and Riot Platforms were up 3.47% at $12.67 at the time of publication, according to Benzinga Pro.
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