The post Bitcoin mining stocks attract Wall Street as BTC continues breaking all-time highs appeared on BitcoinEthereumNews.com.

Bitcoin is breaking records left and right, and Wall Street can’t ignore it any longer. The money’s on the miners now. The same miners who’ve been sweating it out all year, barely staying afloat, are suddenly the hot ticket, per CNBC’s data. It’s like flipping a switch; one minute they’re getting crushed by regulations and stagnant BTC prices, and the next, they’re riding this massive post-election Bitcoin rally straight to the top. The big players – Riot Platforms, Marathon Digital, CleanSpark – are all on Wall Street’s radar again. Here’s the thing: 2024 has been a rollercoaster for miners. Pure-play Bitcoin miners, the ones whose whole business depends on mining BTC, got hit hard this year. Bitcoin itself was on a slow, flat path, without much action. And then the Bitcoin halving in April came along, slicing their rewards in half, just as they were struggling to stay profitable. Some companies even pivoted, moving part of their operations into AI data centers. They figured they’d chase AI money and get a little breathing room from BTC’s relentless grind. But the pivot had its own downside. Investors turned their eyes to Bitcoin ETFs, which launched in January, offering an easier way to get BTC exposure. Mining stocks got shoved aside. Bitcoin miners back in the game as prices soar But now, everything’s flipped. Since Election Day, Bitcoin’s been tearing up the charts, smashing records, and hitting highs we haven’t seen before. It’s got analysts buzzing. Mike Colonnese from H.C. Wainwright didn’t hold back, calling it a “compelling buying opportunity” for those willing to bet on miners catching up.  “There’s massive upside potential,” he said, predicting a catch-up trade for the pure-play miners who didn’t pivot to AI and stayed true to BTC. Investors, he added, who want the most bang for…

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Filed under: News - @ November 12, 2024 9:26 pm