![Bitcoin's 6.6% Weekly Gain Boosts Mining Stocks; Marathon outperforms BTC](https://i-invdn-com.investing.com/news/moved_LYNXMPEI880OH_L.jpg)
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The recent performance of , with a 6.6% gain this week, has had a mixed impact on related stocks, with mining companies experiencing notable movements. Smaller miners Bitfarms and Core Scientific led the gains, with their shares up 46.2% and 43.5% respectively. Other miners such as Argo Blockchain and Terawulf also saw increases of 31% and 20%.
On the contrary, some companies do not follow the upward trend. Cipher Mining shares fell 4.3%, while Hut 8 Mining Corp fell slightly 3.9%. Marathon Digital Holdings notably outperformed Bitcoin itself with a 10.1% stock gain. Riot Blockchain, on the other hand, posted only a modest 2.5% gain after JP Morgan changed the rating to underweight and a new price target of $12 per share.
Coinbase (NASDAQ:), the cryptocurrency exchange, saw slight growth of 1.5% and Microstrategy, known for its significant Bitcoin holdings, increased by 5.1%, both following Bitcoin performance.
Meanwhile, Canaan, a mining equipment manufacturer, suffered a sharp decline of 19%. Galaxy Digital Holdings Ltd. also felt the market volatility with a -1.62% drop and Bakkt Holdings Inc., the digital asset marketplace, fell -3.80%.
The financial community is keenly anticipating upcoming economic data and policy decisions that could influence market trends further. Consumer price index data for November is expected to provide insight into inflation trends, while the Federal Reserve’s interest rate decision on Wednesday will be closely watched for potential impact. Its assets include investment strategies across a variety of sectors, including cryptocurrencies and related stocks.
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