Crypto mining stocks have declined across the board the value of the entire crypto market fell almost 9% on Thursday.
Shares in crypto mining companies IREN and CleanSpark sank on Thursday as their earnings came in below Wall Street expectations and Bitcoin’s slide saw traders turn risk-off.
Bitcoin (BTC) has fallen 12% over the past 24 hours to briefly touch a low of $60,000 early on Friday. Meanwhile, the crypto market capitalization fell by almost 9%, according to CoinMarketCap.
CleanSpark (CLSK) led the decline, closing trading on Thursday down 19.13% and falling another 8.6% after-hours to $7.55 after its results for the quarter ended Dec. 31 came in below analyst predictions.
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