Explosion in Demand for Bitcoin Companies: Billions Flown in 2 Weeks

There were sudden increases when the demand for Bitcoin (BTC) mining companies increased greatly in a short time.

Demand for Bitcoin mining companies has soared over the last 2 weeks as the cryptocurrency market deals with the spot Ethereum ETF launch. One of the companies that benefited most from the billions of dollars flowing into the mining sector was Marathon Digital (MARA).

The market value of Marathon Digital (MARA) increased by 37% in the last 5 days, reaching $7.56 billion from $5.51 billion.

Witnessing a similar situation, Riot Platforms (RIOT) increased its market value from $2.78 billion to $3.67 billion.

Hut 8 Mining (HUT) made significant progress within 1 week, reaching 1.76 billion dollars with an increase of 11% from 1.58 billion dollars.

Took its share in small companies

Not only the giant Bitcoin miners, but also small companies in the sector managed to get their share of the volume flow. One of them, BIT Digital (BTBT), was valued at $456 million two weeks ago and rose to $508 million.

Hive Digital (HIVE) reached $427.9 million from $392 million in the same period.

As cryptocurrency supporter Donald Trump's chances of winning the US elections increase, corporate interest in the sector has also begun to gain momentum. After Trump was unsuccessfully assassinated, both Bitcoin and altcoin prices rose and it seems that institutional investors' appetite for the crypto sector increased.

Donald Trump will speak at the Bitcoin 2024 conference on July 27.