Roughed-Up Bitcoin Miner Stocks Attempt Rally as BTC Retakes $27K

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Many in the sector are down 50% or more over the past two months.

for the first time in over two weeks, giving a minor boost to the mining stocks.

Hut 8 Mining was one of the largest gainers, advancing 6.5% as it also announced final Canadian regulatory approval for its merger with USBTC.Bitcoin mining stocks have suffered over the past two months alongside bitcoin’s tumble from about the $30,000 level, with all three of the above names down 50% or more since the middle of July.

At press time, bitcoin was holding at $27,300, up 3.1% over the past 24 hours. Coming later this week is a rate-setting meeting for the U.S. Federal Reserve. The central bank is almost universally expected to hold its benchmark fed funds rate steady at 5.25%-5.50%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hut 8 receives greenlight from Canadian Supreme Court for USBTC mergerBitcoin mining firm and computing infrastructure firm Hut 8 has received Supreme Court approval to finalize its business merger with US Bitcoin.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin Preparing a Charge at $27K While Altcoins Mostly Flat (Market Watch)The cryptocurrency market has remained flat for the past 24 hours with no serious developments.
Source: Crypto_Potato - 🏆 568. / 51 Read more »