US Crypto Stocks Surge on Initial Trading Day Following Bitcoin Halving

Crypto-related stocks in the United States experienced gains on Monday, following a wider market upturn, just days after the Bitcoin halving. Several stocks, including Marathon Digital, CleanSpark, Riot Platforms, Cipher Mining, and Hut 8, all saw double-digit percentage gains on April 22 and continued to rise in after-hours trading. Stronghold Digital Mining was the biggest gainer of the day, with a 35.3% increase in price. Riot followed with a jump of over 23%. Despite the halving of Bitcoin mining rewards, U.S. crypto miners saw price gains, extending the rallies from the previous Friday. The Valkyrie Bitcoin Miners ETF also saw an 11% gain. These price jumps coincided with a broader market gain, as the Nasdaq Composite and the S&P 500 both experienced increases. Market commentators had predicted mixed results for Bitcoin’s price after the halving, but it has risen 4.5% since then. Coinbase and MicroStrategy also saw gains in their stock prices.