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28 July 2021

Bitfarms’ shares slump on Nasdaq debut amid crypto market pull-back

Bitfarms’ shares slump on Nasdaq debut amid crypto market pull-back


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Marathon Digital Holdings (MARA) is down roughly 51% from its early-April all-time high of $56.50 after its stock last changed hands for $27.83, while Hive Blockchain (HIVE) trading at $2.38 for a loss of 57% from its February high of $5.50, and Riot Blockchain (RIOT) priced at $31.57 after falling nearly 60% from its February peak of $77.90.

In addition to the heavy BTC sell-off that followed Bitcoin’s April all-time high, the poor performance of mining stocks has resulted from negative perceptions concerning the sector’s energy consumption, and reactions to China’s escalating crackdown on domestic miners.

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