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Following a red hot morning of trading on Tuesday, some US crypto stocks lost some of their earlier gains throughout the afternoon.\u00a0<\/p>\n
Coinbase for instance, which bounced as high as 14% Tuesday<\/a>, settled at just over $82 a share. Even so, this still represents a more than 6% increase on the day.<\/p>\n The catalyst for all these stock jumps, bitcoin (BTC<\/a>) itself, dipped from its $35,000 peak on early Tuesday morning to around $33,800 at the time of writing.<\/p>\n Mining companies, the firms with the most to lose and the most to gain on the back of the digital asset, retreated along with bitcoin but stayed in the green.\u00a0<\/p>\n Read more:<\/strong> Trading firms scrambling amid bitcoin price surge<\/a><\/p>\n One miner that climbed as much as 20% on Tuesday \u2014 Marathon Digital \u2014 closed over 11% up. CleanSpark performed similarly to Marathon, ending the day with a resounding 10.46% surge.\u00a0<\/p>\n Argo Blockchain had the most consistent and strongest price growth of the day, rising over 26% by around 4 pm ET.\u00a0<\/p>\n Single digit gainers included Bitdeer, Hut 8, Hive Digital Technologies, Bitfarms and TeraWulf.<\/p>\n Core Scientific was the outlier among mining companies, as their stock had a much smaller response to bitcoin surging past $34,000.<\/p>\n Of course, Core Scientific has still yet to emerge from bankruptcy, with a disclosure statement hearing scheduled<\/a> for Nov. 14, 2023.\u00a0<\/p>\n MicroStrategy, though, stayed strong. By the stock market close, the top US corporate holder of bitcoin was in the green by over 12%.<\/p>\n It still remains to be seen whether this bitcoin surge is the start of an era dominated by bullishness or simply a blip caused by frenzied speculation on social media about a spot bitcoin ETF<\/a>.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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