CleanSpark, Bit Digital and Other Crypto Miners Rise as Bitcoin Approaches $100,000

Jerry Kronenberg joined discussion · Nov 22 15:19

$CleanSpark (CLSK.US)$, $Bit Digital (BTBT.US)$ and other crypto-mining stocks rose more than 10% Friday as Bitcoin hit a record high just shy of $100,000.

CLSK led the way higher, rising 16.5% to a $15.10 close. Crypto stocks rose as $Bitcoin (BTC.CC)$ scored a $99,849.99 all-time high Friday afternoon – just shy of the $100,000 mark.

BTC has been rising since President-elect Donald Trump's election win earlier this month, gaining ground on hopes that he will make good on pro-crypto promises that he made during his campaign.

U.S. Securities and Exchange Commission Chairman Gary Gensler – seen as crypto skeptic and a supporter of closely regulating the industry – also announced plans earlier this week to step down when Trump becomes president on Jan. 20. Markets hope whomever Trump appoints as Gensler's replacement will be more crypto-friendly.

Hopes for lighter U.S. regulation of the sector have sent both Bitcoin and crypto-related stocks higher in recent weeks. Friday's gainers included:

-- $Bit Digital (BTBT.US)$, which added 11.3% to $4.44

-- $Iris Energy (IREN.US)$, up 10.9% to $10.78

-- $Hut 8 (HUT.US)$, which gained 10.4% to $25.92

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