The shares of most cryptocurrency mining companies have fallen to all-time highs.
Golden Financial reports that the value of Bitcoin has fallen from its current high of $ 70,000 to $ 42,000, while shares of some of the largest cryptocurrency mining companies have also fallen. According to data from Block Research, the market value of the Nevada-based Marathon patent has fallen from $ 7.65 billion in November to $ 3 billion today. Colorado's Riot blockchain has grown from $ 4.25 billion to $ 2.5 billion. Toronto-based Hut 8 Mining grew from $ 2.33 billion to $ 1.19 billion. Shares of Hive, Argo Blockchain and Canaan also fell more than 50%. The share price of the largest cryptocurrency miner since its peak in November has halved. Ethan Vera, chief executive of uxor Tech, described mining products as a "bitcoin leveraged trade". (The Crypto Block)
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