Bitcoin Mining Stocks Fall After Recent Gains; Investors Take Profits
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Bitcoin mining stocks Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) are down today after big gains over the past month.
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Shares of Bitcoin mining stocks have benefited from anticipation around a potential Bitcoin ETF and upcoming Bitcoin halving event.
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Marathon Digital recently announced a large mining capacity purchase that will reduce its costs. Riot Platforms saw an increase in Bitcoin production in November.
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The stocks may be falling today as investors take profits after recent run-ups.
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The heavy trading volumes in the stocks today exceed their 100-day averages, indicating high investor interest.