(MENAFN- Investor Ideas) Investorideas , a go-to platform for big investing ideas, reports on bitcoin and crypto stocks trading as momentum for the sector continues to build and stocks continue to follow up on yesterday's gains.
As miner profits rise , so do the stocks. CCN reported "Bitcoin miners reaped $107 million in revenue on the day of the fourth Bitcoin Halving.".
Riot Platforms, Inc. (NASDAQ:RIOT ) Is trading at 11.66, gaining $0.43 or 3.78%,
Marathon Digital Holdings, Inc. (NASDAQ:MARA ) is trading at $18.97, rising $1.42 gaining 8.09%. The stock had a high of $12.14.
Bitfarms Ltd. (NASDAQ: BITF ) is trading at $2.0820, gaining .0320 or +1.5625%, with a high of $2.14. Bitfarms recently announced the completion of its first two farm upgrades with over 5,000 Bitmain T21 miners installed and operating in Québec.
"Our Bitmain miner installations kickstart our transformative fleet upgrade and have improved energy efficiency by approximately 51% at both our Garlock and Farnham farms," said Geoff Morphy, President and CEO of Bitfarms. "The 51% improvement in site energy efficiency demonstrates the transformative nature of our upgrade plan and how well it positions Bitfarms leading into and after the upcoming halving event."
Upgrade Highlights:
At Garlock, the Company installed 3,168 T21s.
At Farnham, the Company installed 1,710 T21s and 100 M53S+ hydro miners.
In Q2 2024, more than 30,000 additional T21s are scheduled to be delivered to the Company's existing locations including its newest development in Paso Pe, Paraguay.
Bitfarms' Chief Mining Officer, Ben Gagnon, stated, "Leveraging our existing facilities and the strength of our operations team, Bitfarms has already energized over 5,000 T21s with installations at our third location underway. As we deploy an additional 30,000 miners this quarter, we expect to drive rapid increases in both our hashrate and energy efficiency, while executing towards our 12 EH/s and 21 EH/s targets in 2024."
Hut 8 Corp. (NASDAQ:HUT ) is trading at $9.49, up 0.27 or +2.98%, with a high of $9.73.
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