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


18 Sep 2023 3:38 PM

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

  • Bitcoin (BTC) increased by 3% on Monday, surpassing $27,000 for the first time in over two weeks.
  • Hut 8 Mining (HUT) experienced a 6.5% gain after receiving final Canadian regulatory approval for its merger with USBTC.
  • Peers Riot Platforms (RIOT) and Marathon Digital (MARA) also saw gains of 6% and 2% respectively.
  • Bitcoin mining stocks have been negatively affected in the past two months due to the decline in bitcoin's value, with all three mentioned stocks down 50% or more since mid-July.
  • Bitcoin is currently valued at $27,300, representing a 3.1% increase in the past 24 hours.
  • The U.S. Federal Reserve is expected to maintain its benchmark fed funds rate at 5.25%-5.50% during its upcoming rate-setting meeting.

The overall sentiment of the article is positive, as it highlights the increase in Bitcoin's value and the gains made by mining stocks. However, it also mentions the decline in mining stocks over the past two months.

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You May Ask

What was the percentage increase in Bitcoin's value on Monday?Which mining stock experienced the largest gain?How much have the mentioned mining stocks declined since mid-July?What is the current value of Bitcoin?What is the expected outcome of the upcoming rate-setting meeting of the U.S. Federal Reserve?

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