Crypto Mining Stock Update 1/22/22

Crypto mining stocks had a rough week, with no stocks gaining in price as Bitcoin tumbled below $40,000.

Colin Harper
Colin Harper

Bitcoin ended a brutal week falling below the $40k level while the network reached an all-time high mining difficulty. Crypto mining stocks were pummeled as the sell-off intensified on Friday. Core Scientific closed on its SPAC transaction while Argo and Hut8 announced diversified ventures. Iris Energy announced a massive, 600MW infrastructure buildout in the Texas panhandle.

Notably, no crypto mining stocks that we observe had positive price gains last week.

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Head of Research and Content at Luxor Technology