Bitcoin Mining Stocks Are Falling as Cryptocurrencies Continue to Rise
Bitcoin mining stocks have underperformed in recent weeks despite the rising price of the cryptocurrency. shares of Riot Platforms, Bitfarms, and Bitdeer are hovering near a 20% decline. Industry observers point to market concerns over the upcoming halving of bitcoin, which is expected to occur in late April, as the main reason. Another factor is a proposed 30 percent excise tax on miners' energy use. The Biden administration first imposed such a tax on miners last year, citing environmental concerns. This potential tax is again in the U.S. Treasury Department's 2025 revenue proposal.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trending news
MoreDocuments obtained by Reuters show that an international consortium of several energy companies is planning to build a gas turbine combined cycle power plant with an installed capacity of 1,000 to 1,800 megawatts, along with supporting liquefied natural gas import infrastructure.
Chevron announced that in the newly approved consortium project, the company will hold a 70% operating interest, while Greek energy company Helleniq Energy will hold the remaining 30% interest.
Crypto prices
More
