Seeking Alpha
2023-03-23 21:15:45

Why did Riot Platforms rise? Crypto gains push mining stocks higher

Riot Platforms ( RIOT ) ended Thursday's trading session 16.9% higher, paring some gains after rising as much as 20% , tracking broader gains in cryptocurrency mining stocks. The gains were spurred by bitcoin ( BTC-USD ) rising after the Federal Reserve pushed back against cutting rates this year with inflation still well above target. The crypto market seemed largely unbothered by the SEC's crackdown on exchange Coinbase ( COIN ). At the time of writing, bitcoin ( BTC-USD ) was up 3.3% at $28.31K. Other miners that ended in the green include: Cipher Mining ( CIFR ) +14.2% , BIT Mining ( BTCM ) +14.1% , Hut 8 Mining ( HUT ) +9.7% , Marathon Digital ( MARA ) +8.7% , Bit Digital ( BTBT ) +8.3% , CleanSpark ( CLSK ) +7.1% . More on the Crypto Clampdown SEC warns of 'significant' risk of loss for crypto investors Ex-Terraform Labs CEO Do Kwon arrested in Montenegro SEC sues Tron founder Justin Sun for fraud Coinbase Wells Notice: What Is At 'Stake'

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.