Bitcoin Mining Stocks MARA Holdings, Riot Platforms And CleanSpark Are Charging Higher Wednesday: What's Going On?

Bitcoin (CRYPTO: BTC) mining stocks MARA Holdings Inc (NASDAQ:MARA), Riot Platforms Inc (NASDAQ:RIOT) and CleanSpark Inc (NASDAQ:CLSK) are surging Wednesday morning after Donald Trump was elected as the next president of the United States.

What To Know: Broader markets are ripping higher in early trading Wednesday after Trump secured a second term as investors expect U.S.-focused companies to benefit from potential lower taxes and tariffs.

Crypto markets appear to be among the biggest immediate beneficiaries with Bitcoin (CRYPTO: BTC) hitting new all-time highs above $75,000 and several other popular cryptocurrencies surging on the election results. Trump has positioned himself as a pro-crypto candidate.

Bitcoin mining stocks are outpacing gains in underlying cryptocurrencies in early trading Wednesday. Trump said earlier this year that he wanted all Bitcoin to be made in the U.S.

Check This Out: Bitcoin’s Future Under President-Elect Donald Trump: A Look At His Crypto Policies

MARA Holdings, Riot and CleanSpark all released mining updates for October at the beginning of the week. Here’s a look at how the miners stack up against each other.

• MARA Holdings mined 717 bitcoin in October, up 2% month-over-month. The company said it held a total of 27,562 bitcoin as of Oct. 31.

• Riot mined 505 bitcoin in October, up 23% month-over-month. The company said it held 10,928 bitcoin as of the end of the month.

• CleanSpark mined 655 bitcoin in October, up 32% on a month-over-month basis. The company had total bitcoin holdings of 8,701 as of Oct. 31.

Bitcoin was up about 7% over a 24-hour period, trading around $74,640 at the time of publication, according to Benzinga Pro.

MARA, RIOT, CLSK: At publication time, MARA shares were up 9.21% at $17.73, Riot shares were up 12.3% at $10.90 and CleanSpark shares were up 11.6% at $11.74, according to Benzinga Pro.

Photo: Shutterstock.

Read more...