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

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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%.

 

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