Bitcoin mining stocks are the top large-cap stocks, accounting for 25% of stocks traded and surpassing BTC in the new year.
Yesterday, December 27th, the stock market reflected a surge in investor interest in Bitcoin-related stocks ahead of a potential ETF approval.
With the approval of a Bitcoin ETF expected to be imminent, the Bitcoin mining company’s stock price has soared, outpacing the cryptocurrency’s gains. Marathon (MARA) was leading with a surge in trading volume. excellent The same goes even for Tesla’s trading floor activity.
Shares of Marathon rose 15.24% to $31.07, with trading volume reaching 156.57 million, well above the three-month average of 47.8 million, according to Yahoo Finance data. Additionally, of all stocks with a market capitalization of $100 million or more, Marathon closed in second place, behind Niokola (including after-hours trading). This bullish behavior undercut Bitcoin’s performance, which saw a slight increase of 3% during US trading hours.
| symbol | name | price | change | % change | Volume | Average trading volume (3 months) | market capitalization |
|---|---|---|---|---|---|---|---|
| NKLA | Nikola Corporation | 0.8921 | 0.0048 | 0.0054 | 112.298 | 74.423M | 1.033B |
| Mara | Marathon Patent Group, Inc. | 07.31 | 4.11 | 0.1524 | 105.657 | 48.811M | 6.917B |
| TSLA | Tesla, Inc. | 261.44 | 4.83 | 0.0188 | 105.536 | 120.157M | 831.097B |
| Nio | Nio Co., Ltd. | 9.1 | -0.23 | -2.47% | 98.579 | 48.524M | 16.252B |
| BITF | Bitfarms Co., Ltd. | 3.51 | 0.27 | 0.0833 | 56.283 | 20.227M | 1.132B |
| CHRS | Coherus Biosciences, Inc. | 2.69 | 0.51 | 0.2339 | 52.173 | 5,417M | 299.569M |
| wolf | Terrawolf Co., Ltd. | 2.88 | 0.66 | 0.2973 | 50.356 | 11.673M | 693.835M |
| AMD | Advanced Micro Devices, Inc. | 146.07 | 2.66 | 0.0185 | 48.595 | 56.366M | 235.976B |
| sophie | SoFi Technologies, Inc. | 10.32 | 0.36 | 0.0361 | 43.919 | 39.622M | 9.894B |
| say | Tellurian Co., Ltd. | 0.9485 | 0.0666 | 0.0755 | 42.475 | 34.78M | 602.148M |
| riot | Riot Blockchain, Inc. | 18.62 | 1.27 | 0.0732 | 42.035 | 26.359M | 3.845B |
| INTC | Intel Corporation | 50.76 | 0.26 | 0.0051 | 51.822 | 38.783M | 214.004B |
| AAPL | Apple Corporation | 193.15 | 0.1 | 0.0005 | 47.928 | 53.39 million | 3.004T |
| F | ford motor company | 12.39 | -0.06 | -0.48% | 39.815 | 54,514M | 49.597B |
| can do | Canaan Corporation | 3.19 | 0.16 | 0.0528 | 35.906 | 82.69 million | 545.637M |
| TLRY | Tilray Brands, Inc. | 2.24 | -0.05 | -2.18% | 32.813 | 15907M | 1.657B |
| GOEV | Canoe Co., Ltd. | 0.2467 | 0.0127 | 0.0543 | 32.695 | 27.476M | 193.926M |
| PFE | Pfizer Inc. | 28.61 | 0.2 | 0.007 | 34.539 | 39.49M | 161.544B |
| IOVA | Iovance Biotherapeutics, Inc. | 7.23 | -1.66 | -18.67% | 31.204 | 70.61 million | 1.85B |
| blank | Blink Charging Co., Ltd. | 3.68 | -0.44 | -10.68% | 30.042 | 53.39 million | 248.061M |
| BTBT | Bit Digital Co., Ltd. | 4.98 | 0.78 | 0.1857 | 28.496 | 5698M | 451.975M |
| PLTR | Palantir Technologies Co., Ltd. | 17.47 | -0.21 | -1.19% | 29.258 | 62.325M | 38.015B |
| tea | AT&T Corporation | 16.58 | 0.01 | 0.0006 | 27.674 | 37.58M | 118.547B |
| CIFR | Cypher Mining Co., Ltd. | 5.27 | 0.29 | 0.0582 | 26.997 | 45.23 million | 1.355B |
| AMZN | Amazon.com, Inc. | 153.34 | -0.07 | -0.05% | 30.235 | 51.244M | 1.585T |
| CLSK | Clean Spark Co., Ltd. | 13.43 | 1.69 | 0.144 | 27.112 | 21.046M | 2.481B |
| BKKT | Bakkt Holdings, Inc. | 2.36 | 0.56 | 0.3111 | 25.836 | 3017M | 215.774M |
| CCL | Carnival Corporation | 18.54 | -0.07 | -0.38% | 25.448 | 31.911M | 24.218B |
| BAC | Bank of America Corporation | 33.84 | -0.02 | -0.06% | 22.521 | 48.3M | 267.801B |
| ribbon | Rivian Automotive, Inc. | 23.73 | 0.14 | 0.0059 | 22.445 | 42.067M | 22.727B |
| plug | Plug Power Co., Ltd. | 4.71 | -0.07 | -1.46% | 23.925 | 35.643M | 2.852B |
| AAL | American Airlines Group Inc. | 13.99 | -0.12 | -0.85% | 23.123 | 36.908M | 9.143B |
| quote | Cell dynamics, integration | 83.44 | 37.73 | 0.8254 | 22.015 | 22.29 million | 8.182B |
| nvidia | NVIDIA Corporation | 494.17 | 1.38 | 0.0028 | 23.193 | 42.668M | 1.221T |
Bitfarms (BITF), TeraWulf (WULF), and Riot Blockchain (RIOT) also witnessed notable trading excitement, with a total of 148 million shares traded, roughly double the average volume for those stocks.
Bit Digital (BTBT), CleanSpark (CLSK), Canaan (CAN), and Cipher Mining (CIFR) completed the list of top performers with gains of 18.57%, 14.40%, 5.28%, and 5.82%, respectively. The trading volume of these companies was significantly higher than the recent average, resulting in high market interest.
In particular, the top 35 stocks (with a market capitalization of $100 million or more) recorded a total trading volume of 1.45 billion shares. Of those stocks, 372 million are related to Bitcoin mining, accounting for about 25% of stocks traded in this sector.
The rally in these stocks highlights the broader market interest in the Bitcoin space and the desire to gain exposure to stocks with potentially high betas for the impending spot Bitcoin ETF. These movements and the day’s trading data suggest that the market is full of anticipation and keeping a keen eye on the regulatory period.
Additionally, with the next halving approaching in 2024, currently soaring Bitcoin transaction fees are buoying miners in the hope that the ever-rising fees will offset the decline in block rewards. If the Inscription-related fee increases allow miners to handle the halving better than expected, mining companies could post larger profits compared to historical halving estimates.
