Crypto mining stocks including Marathon Digital Holdings Inc MARA and Riot Platforms Inc RIOT are moving higher Monday amid a rise in the price of Bitcoin BTC/USD.
What To Know: Bitcoin is up more than 2% over the last 24 hours and more than 9% over the last week amid several positive developments.
Last week, the SEC said it would seek to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, which helped boost the broader cryptocurrency market.
The upward momentum in Bitcoin also appears to be driven by continued optimism surrounding a potential spot ETF. Grayscale submitted an S-3 with the SEC, showing that it intends to list the shares of its Grayscale Bitcoin Trust on the NYSE Arca and is part of the company’s ongoing efforts to convert the trust into a Bitcoin ETF.
“We remain committed to working collaboratively and expeditiously with the SEC on behalf of GBTC’s investors,” the company said.
Marathon Digital is engaged in mining digital assets and focuses on the Bitcoin ecosystem. The stock was up 2.77% at $7.98 at publication time.
Riot Blockchain is focused on building, supporting and operating blockchain technologies with a vision to become the leading Bitcoin-driven infrastructure platform. Shares were up 2.67% at $9.11 Monday morning.
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Photo: Eivind Pedersen from Pixabay.