According to Cointelegraph: As Bitcoin approached its fourth halving event on April 20, mining firms listed on the Nasdaq stock exchange observed significant buoyancy in share prices during the closing 24-hour trading phase of the week.
Riot Platforms (RIOT), a major Bitcoin mining firm, exhibited the most dramatic growth with its share price rising by 10.13% up to $9.13 on April 19 co-occurred with the launch announcement of a 250-acre mining facility in Texas.
In the meantime, shares prices for Marathon Digital (MARA) and Clean Spark (CLSK) closely followed with a 9.78% increase to $16.50 and a 5.98% jump to $17.20, respectively.
Anticipating the halving event, which reduces miners' rewards by half, Bitcoin miners face the challenge of modifying their operational strategies or risk diminished profits with the same resources and energy.
Major Bitcoin miners, in preparation for the event, have been significantly investing in new equipment. Marathon Digital, for instance, has planned to procure a 200-megawatt (MW) Bitcoin mining facility in Texas for $87.3 million. Similarly, the Riot Platforms expanded its hash power with the purchase of 66,560 mining rigs from MicroBT in December 2023.
In contrast to the ascending trend of Bitcoin mining stocks, the S&P 500, tracking the 500-largest U.S. public firms, marked a 0.88% 24-hour decrease before the closure of the trading week.
