After a week of strong volatility, publicly listed Bitcoin mining companies have strongly recovered on Wednesday, recording an impressive upward trend following the victory of Donald Trump in the US presidential election, which had a positive impact on the value of Bit.
On the morning of November 6, stocks of Bit mining companies collectively surged, reflecting the recovery of the cryptocurrency market.
MARA Holdings (MARA), the Bit mining company with the largest market Capital, recorded an increase of 18.97%. Core Scientific (CORZ) rose 10.6%, while Riot Platforms (RIOT), the third-largest market Capital company, jumped 26.16%.
Among the companies recording the strongest upward trend, Cipher Mining (CIFR) led with a 31% increase, followed by Hut 8 (HUT), up 17.05%. However, Griid (GRDI) was the only one among the top 30 Bit mining companies that did not record growth on November 6.
In addition, cryptocurrency-related companies such as Coinbase and Microstrategy also benefited from this positive trend. Coinbase (COIN) stock rose 31.11%, while Microstrategy (MSTR) rose 13.17%.
The increase in the stock prices of Bit mining companies and cryptocurrency-related businesses indicates a return of optimism among investors, driven by recent political factors, particularly Trump's victory. The cryptocurrency market shows signs of stabilization with Bit holding near record levels, increasing expectations for the sustainable development of the industry in the future. This recovery may open up new opportunities for investors as they continue to monitor the volatility of the digital economy in the context of global uncertainty.
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According to Newsbitcoin
