Crypto Firms on Wall Street Diverge: Miners Dip, Strategy Clones Vary
Circle has certainly sparkled on Wall Street since its debut on the New York Stock Exchange (NYSE), and Coinbase has also captured investor interest this week. Yet, not all crypto-related stocks are having a grand time, with Strategy’s MSTR and shares of public miners facing some headwinds.
Miners Take a Hit—Meanwhile, CRCL and COIN Shine as Strategy Copycats Offer a Volatile Mix
Digital assets have been on a wild ride this week, and most publicly traded companies connected to crypto and blockchain haven’t kept pace with Circle’s CRCL. For example, a whopping nine out of the ten biggest publicly traded bitcoin mining companies have faced losses over the past five trading days.
Applied Digital took the biggest tumble with a 15.18% decline, and Bitdeer Technologies wasn’t far behind, dropping 11.24%. MARA Digital Holdings (MARA) experienced an 8.40% decline, while Hut 8 slid by 7.24%. Cleanspark lost 5.45%, and Riot Platforms saw a slight dip of 2.64%.
Strategy (MSTR) also took a little dip of 2.48% over the past five sessions and has even shrunk by more than 6% in the last month. Fresh faces on the scene, who’ve mirrored Strategy’s coin-collecting approach, have also experienced some decent losses.
