Bitcoin Miner Stocks Surge Amidst Banking Meltdown

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Bitcoin mining equities (and bitcoin) are surging as the banking sector tumbles. $HUT $CIFR $SDIG egreechee reports

The miners are moving in step with bitcoin , which is higher by 17% over the past 24 hours to $24,100.

Miners saw their share value increase by an average of 11% on March 13, along with the price of bitcoin. "I’m actually surprised [the miners] didn’t get pumped more," said Wolfie Zhao, head of research at TheMinerMag."Many even didn’t surge more than bitcoin." The extent of the mining sector's exposure to crypto-friendly Signature Bank is unclear. Marathon Digital Holdings on Monday said it

to $142 million in deposits the now shuttered lender. CleanSpark , Bitfarms and Argo Blockchain said on Monday they have no exposure to either Signature or the other collapsed banks, Silvergate and SVB.Read more:

 

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