Bitcoin retakes $21K, bitcoin mining stocks perk up

Jul. 07, 2022 12:53 PM ETBitcoin USD (BTC-USD), SI, BKKT, MSTR, NILE, CLSK, RIOT, GREE, CORZ, MARA, HUT, SOS, HUT:CABy: Liz Kiesche, SA News Editor20 Comments

Bitcoin cryptocurrency background. A bunch of golden bitcoin, Digital currency

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With bitcoin (BTC-USD) steadying and holding above the $20K level, bitcoin mining stocks are climbing in Thursday afternoon trading in the wake of posting June production numbers. The world's largest cryptocurrency by market cap is up 4% over the past 24 hours to $21.0K.

Marathon Digital (NASDAQ:MARA), which hasn't yet announced its June mining numbers, is surging 14%. Hut 8 Mining (NASDAQ:HUT) stock is jumping 12%. It mined 328 bitcoins (BTC-USD) in June, up 6% from May and averaging 10.9 tokens per day.

While Thursday's stock action looks strong, the lot has come off of a rough couple months as seen in this chart. For example, Marathon (MARA) has dropped 77% in the past six months.

Other strong movers include: Riot Blockchain (NASDAQ:RIOT) +11%, Core Scientific (NASDAQ:CORZ) +11%, Greenidge Generatlon (NASDAQ:GREE) +11%, BitNile Holdings (NYSE:NILE) +7.8%, and CleanSpark (NASDAQ:CLSK) +8.0%. SOS Holdings (NYSE:SOS), though, is one of the few crypto stocks in the red, slipping 1.2%.

Most crypto-linked stocks are also climbing with MicroStrategy (NASDAQ:MSTR) gaining 10%, Coinbase Global (+7.0%), Bakkt Holdings (NYSE:BKKT) +4.2%, and Silvergate Capital (NYSE:SI) +4.0%.

Earlier, Silvergate reiterated Buy at BofA on 'relatively stable' digital currency deposit growth

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