Bitcoin mining companies and cryptocurrency firms underperformed this week as the market continues its downward trend, according to 10x Research's latest review. Bitcoin prices remain suppressed due to global policy uncertainty and legislative delays, contributing to the poor performance of publicly traded crypto companies.
Coinbase's recent product launch failed to counteract the market's overall weakness, while Strategy's stock price remained stagnant. ARK Invest's increased holdings in BitMine did not boost its stock price. Among Bitcoin miners, Bitdeer is under pressure from a class-action lawsuit, CleanSpark's earnings missed expectations amid insider selling, and Iren's stock declined after receiving a neutral rating. Despite TeraWulf's successful financing round, its stock price fell due to equity dilution.
Crypto Firms and BTC Miners Struggle Amid Market Downturn
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