Mining stocks return to growth – Bits Media

In mid-May, shares of mining companies fell to their lowest levels in recent months, however, such securities have shown significant recovery since then.

FROM 21 May Riot Blockchain shares, Marathon Patent Group and Canaan both grew by 49%. Of these, the best In total, Riot Blockchain showed herself, Whose shares have grown to 63%, And capitalization has reached $3.4 billion. Marathon also showed a noticeable growth - its shares have grown by 55%.

The shares of mining companies are growing even faster than bitcoin. Last year, the course of the first cryptocurrency grew on 334%, And the shares of Marathon - on 3 119%. If in 2020 year, the capitalization of Riot Blockchain was less $200 million, then in February 2021 the indicator has reached $6.12 billion. However, at the end of April and early May, Together with the fall of the cryptocurrency market, The shares of mining companies also showed a significant decrease.

One of the factors in the growth of mining companies was a possible ban on cryptocurrency extraction in China. Chinese miners take power abroad and place them on existing sites, What large mining companies benefit from.

The outflow of capacities from China led to a significant decrease in the hashnegm pool hashrate, service customers from the Middle Kingdom. At the same time, the pools, working with North American miners, showed a stable hash.