Crypto Stocks to Watch Today: MARA Bucks Selloff as Bitfarms, HIVE, CleanSpark, Riot, Bitdeer and Galaxy Stay in Focus
Crypto-related stocks went their separate ways Thursday. Shares of MARA climbed 3.7% in the afternoon, following news that the company unloaded 15,133 bitcoin to help pay for a debt buyback. Bitcoin itself slipped 3.8% to around $68,201. Elsewhere, CleanSpark, Riot Platforms, Bitfarms, HIVE Digital and Galaxy Digital all dropped between 5% and 10%. Bitdeer barely moved. This shift matters because these stocks aren’t just bitcoin proxies anymore. In a report dated March 25, CoinShares pointed out that the weighted average cash cost to mine a single bitcoin for listed miners jumped to around $79,995 in the fourth quarter. Now, artificial intelligence and high-performance computing—AI/HPC—are on track to account for as much as 70% of listed miners’ revenue by year-end. “Increasingly becoming the core business,” wrote James Butterfill, CoinShares’ head of research.