← Go back Apr 04, 2023
After some recovery over the past few weeks, Bitcoin (CRYPTO: BTC) miners had a rough go of it this week. The value of Bitcoin is down 7.6% in the past week as of noon ET on Friday, and that leads to a lot of lost value for miners and related companies.According to data provided by S&P Global Market Intelligence, shares of Canaan (NASDAQ: CAN) have fallen 15.7% since Friday's close, HIVE Blockchain (NASDAQ: HIVE) is down 17%, Riot Platforms (NASDAQ: RIOT) has dropped 17.6%, Hut 8 Mining (NASDAQ: HUT) is down 16.9%, and Cipher Mining (NASDAQ: CIFR) has fallen 22.7%. But will the drop continue?You can see in the chart below how these companies follow the price of Bitcoin, at least over the short term. And with good reason.Continue reading
Read more: fool
