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Shares of Crypto Miners Drop as Bitcoin Drops Below $20K


After Bitcoin’s price fell below $20,000 on Friday and the gains made earlier in the week were reversed, shares of cryptocurrency miners declined.

Shares of Cleanspark Inc. fell more than 6% to a low of $3.01, just one penny over their 52-week low. Shares of the bitcoin miner are down 68% for the year.

15% less Iris Energy Ltd., now $3.75 In its monthly investor statement for September, the sustainable bitcoin mining business noted that while the amount of bitcoin mined was up 8% from August, monthly operating revenue was down 6%.

Bitfarms Ltd., a self-mining Bitcoin business situated in Toronto, had a decline in share price of 8% to $1.01, marking its 52-week low. This year, they have fallen by approximately 80%.

As of 1:36 p.m. ET, Bitcoin has decreased by more than 59% this year to $19,446. The price of Bitcoin started to rebound on Tuesday after a rocky few weeks around $20,000 and remained at or above that mark before dropping after lunchtime.

Shares of the cryptocurrency miner Hive Blockchain Technologies Ltd. fell more than 6% to $3.74. This year, they have fallen by over 72%.

News Summary:

  • Shares of Crypto Miners Drop as Bitcoin Drops Below $20K
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