Bitcoin mining stocks have regained momentum a few hours to the halving following weeks in the red zone. Technology stocks witnessed slow growth in the market due to tension in the Middle East as stocks and crypto assets continued their correlation.
The Bitcoin halving will take place today and slash miner rewards by 50% from 6.25 BTC to 3.125 BTC per block. This event has ignited several movements and reversals in the market in the last two months. At press time Bitcoin price is at $63,501 as the asset fights off liquidations picked up this week.
Miners have been at the center of the halving narrative because their rewards will be slashed coupled with improvements to capacity and hashrate across mining sites. Despite this, BTC haling is widely perceived as a bullish activity and tipped to ignite the next bull run.
Bitcoin Mining Stocks Rally
The stocks of publicly traded Bitcoin mining stinks have soared with the crypto market to continue its correlation. Canadian-based miner Hut 8
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