Several crypto-mines accumulate strongly as bitcoin exceeds $ 46,000

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Crypto mining stocks rallied on Monday following the recent rise in the price of bitcoin, as well as support for an amendment to the U.S. infrastructure bill that would specifically exclude miners from additional tax reporting requirements.

BIT Mining (BTCM), CleanSpark (CLSK) and Bitfarms (BITF) all rose by double-digit percentages on Monday, increasing by around 21%, 12% and 11% respectively, while Riot Blockchain (RIOT), Marathon Digital Holdings (MARA), Hive Blockchain Technologies (CVE) also increased by 8%, 5% and 7%, respectively. Argo Blockchain (ARBKF), which published its profits on Monday morning, however, fell 2%.

Mining stocks are currently leveraging the price of bitcoin, said Michael Del Grosso, an analyst who covers Riot Blockchain and Marathon Digital Asset Holdings at Compass Point Research. All of this is happening while the hash rate is relatively low due to the disruption of Chinese miners, which is still taking months to get rid of.

Bitcoin has risen 6% in the past 24 hours, from around $ 43,600 to over $ 46,000. The rise in mining shares also comes at a time when bipartisan support has emerged for an amendment to the U.S. infrastructure bill that would exclude miners from being considered brokers under the crypto tax reporting provision of the project. of law.

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