Bitcoin mining equities opened in the green on Thursday, as the price of bitcoin slipped below $90,000 at market open, only to quickly regain the crucial support level.
Bitcoin slipped to a 5-day low of $89,538 in early trading hours before rising back above $90,000. At the time of publication, bitcoin is hovering around $90,300 and down 1% over the last day.
Bitcoin mining stocks, particularly those enmeshed in AI expansions, have largely shrugged off the volatility.
IREN (NASDAQ: IREN) and Hut 8 (NASDAQ: HUT) posted gains upon market open, as IREN rose 6% to $46.27 on the day, while Hut 8 increased 2.1% to $59.09.
Bitfarms (NASDAQ: BITF) registered a 6% surge at market open to $2.96. The company announced its strategic transition to AI and HPC workloads in November.
Pure-play bitcoin miners also faced selling pressure. CleanSpark (NASDAQ: CLSK) was up 1% to $12.04 on the day, while Riot Platforms (NASDAQ: RIOT) was essentially flat at 0.20% to $15.31.
Other operators showed muted volatility. HIVE (NASDAQ: HIVE) climbed 2.5% to $3.14 at market open. TeraWulf (NASDAQ: WULF) rose 4% to $12.98, and MARA (NASDAQ: MARA) edged up 3.6% to $10.44.
Core Scientific (NASDAQ: CORZ) declined 0.18% to $16.21, and Cipher (NASDAQ: CIFR) slipped 0.12% to $16.06 at market open.
Header image by Arturo Añez via Unsplash.
