Posted 1/2/2024, 1:59:56 PM
Bitcoin Hits $45K, Lifting Marathon and Riot Stocks to Start 2022
- Bitcoin surpassed $45,000 on January 1st, lifting crypto-related stocks like Marathon Digital (MARA) and Riot Platforms (RIOT)
- MARA stock was up 13% and RIOT stock up 9% in pre-market trading on January 2nd
- Both MARA and RIOT registered triple-digit percentage stock price gains in 2022, driven by their Bitcoin mining operations
- MARA grew its hash rate 8% quarter-over-quarter and started energizing a new mining facility, while RIOT has no debt and robust Bitcoin holdings
- Analyst ratings currently view RIOT stock as 15% undervalued, while MARA stock is seen as 45% overvalued