BTC Halving Leads To Surge In Prices of Bitcoin Mining Stocks
Several bitcoin mining firms listed on the Nasdaq stock exchanges ended the trading week with a remarkable increase in share prices on the last trading day of the week, in the backdrop of the bitcoin halving.
On April 20, the bitcoin blockchain marked the 4th halving. This date is important for Bitcoin mining firms because it will impact business operations substantially.
Halving will reduce miners’ rewards to half for every block. The latest halving event will cut miners’ rewards from 6 BTC to 3.125 BTC per block mined.
The stock investors in the shares of the firms involved in Bitcoin mining were speculating that mining firms might be able to take the lead in the industry.
The share prices of several mining firms have surged by about 10% in the 24 hours preceding the actual halving event.
