Following the completion of the fourth halving event of the Bitcoin blockchain, the stock price of all the Bitcoin mining companies surged rapidly.
On 20 April 2024, Bitcoin (BTC), the top crypto asset by market cap, completed the fourth Bitcoin halving event successfully.
Now the current trade price of Bitcoin is $63,922 & this price is 3.2% higher over the last 24 hours.
Now per block mining reward for the Bitcoin miners is 3.125 BTC, which was earlier 6.25 BTC. Surely this will impact the revenue of Bitcoin miners by nearly -50% but this struggling phase will be over by the next 12 months, as the trade price of Bitcoin will surge in step-by-step phases by 100% in the next 12 months if Bitcoin will follow its past post-halving patterns.
Over the last 4 weeks, the trade price of digital assets, including Bitcoin, & also of stock assets faced very high volatility, following the tensions in the Middle East.
In the last week, the stock price of the Bitcoin mining firms faced a very high downfall, by an average of -20% in every mining firm’s stock asset prices.
But in the present time, the trade price of all the Bitcoin mining firms surged by nearly an average of 10%.
Bitcoin mining firm Riot Platforms (RIOT) led the charge on the April 19 trading day, as its stock price increased by 10.13% to $9.13. On the same day, Riot announced the launch of a new 250-acre mining facility in Corsicana, Texas.
In the same time frame, Digital (MARA) followed closely with a 9.78% increase to $16.50, while Clean Spark (CLSK) saw a rise of 5.98% to $17.20.
Bitcoin-friendly US Senator Cynthia Lummis from Wyoming also showed her happiness on the completion of the 4th Bitcoin halving event.
Read also: Tether CEO Says Big Accounting Firms Shying Away from Tether
Bitcoin mining stocks pump, as Bitcoin completes its 4th halving event
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