Bitcoin mining: Elon Musk adjustments his tune
Musk added that these miners will ask their global rivals to do so as well, a development he dubbed “potentially promising.”
Bitcoin prices (XBT) have stabilized a bit in recent days and are now hovering around $37,000. But that’s a far cry from the all-time high of above $60,000 just last month.
A crackdown on bitcoin in China, where many miners operate, isn’t helping. Neither is new guidance from the US Treasury Department on how to tax bitcoin.
Still, Musk’s comments boosted shares of several top bitcoin mining companies, which own facilities that operate high-end hardware used to solve the complex mathematical puzzles required to generate new bitcoin.
Riot Blockchain (RIOT), Marathon Digital Holdings (MARA) and Hive Blockchain (HVBTF) all soared more than 10% Monday before pulling back a bit Tuesday morning.
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