Bitcoin hits new highs

Despite bitcoin achieving another all-time peak on Monday, publicly traded mining stocks on Nasdaq started the day with declines.

Shares linked to companies such as Marathon, Cleanspark, Riot, and others have dropped in value against the U.S. dollar, contrasting with bitcoin’s surge to fresh price milestones.

On Monday, Mar. 11, 2024, BTC reached $72,486, but most bitcoin mining companies’ shares have fallen following a brief recovery last week.

While every publicly listed mining firm ended Friday with gains last week, Monday presented a different picture.

READ ALSO:Bitcoin now competing against gold, billionaire investor says, as BTC rises by 47%

Before 12 p.m. Eastern Time on Mar. 11, Marathon Digital Holdings (Nasdaq: MARA) saw a decline of 5.23%, Cleanspark (Nasdaq: CLSK) fell 7.88%, Terawulf (Nasdaq: WULF) dropped by 7.21%, Bitdeer (Nasdaq: BTDR) decreased by 8.83%, Bitfarms Limited (Nasdaq: BITF) reported a loss of 9.81% before midday, and Riot Platforms (Nasdaq: RIOT) encountered a decline of 2.63%.

All U.S. publicly-listed miners recorded losses on the Nasdaq, with brokerage firm Bernstein suggesting mining stocks as the optimal equity representative in this bullish cycle, highlighting “every window of miner weakness as a buying opportunity.”

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