The approaching Bitcoin Halving has caused a significant increase in price volatility within the cryptocurrency industry. This major event is expected to lead the market towards a new all-time high in the near future.
Not only will cryptocurrencies experience an uptrend, but also some companies listed in the stock market that are closely linked to the crypto industry.
One such company is Marathon Digital (MARA), an American digital asset technology company engaged in cryptocurrency mining. With a stock price of $20.87 and a market cap of $4.14 billion, it aims to build one of the world’s largest, most sustainable, and efficient Bitcoin mining operations. As of now, the company holds 16,930 BTCs.
Another company to watch out for is Block Inc (SQ), formerly known as Square, INC. Founded in 2009 by Jack Dorsey and Jim McKelvey, it is a financial service and mobile payment company with 56 million+ users and over 4 million business clients. Its stock price is currently $ and market cap is $. The company also holds 8,038 Bitcoins, valued at over $340 million as of December 31, 2023.
Riot Platforms (RIOT), acquired by Tencent in 2011, is a digital infrastructure firm primarily focused on Bitcoin mining. It is reportedly the biggest operator of Bitcoin mining facilities in North America and also invests in cryptocurrencies and blockchain-based businesses. With a share price of $11.40 and a market cap of $2.89 billion, the company holds 7,362 Bitcoins valued at over $310 million.
As the market gears up for the Bitcoin Halving, these companies are poised to benefit and potentially experience significant growth in their respective portfolios.
