Bitcoin Mining Stocks Post Double-Digit Gains in Pre-Market

Bitcoin mining stocks experienced double-digit gains during pre-market trading on Wednesday, following the election of Donald Trump as the next U.S. president, who vowed to support Bitcoin mining.

Data shows that 15 public mining stocks are being actively traded during these pre-market hours, exhibiting high volatility with fluctuations ranging from 8.6% to 15.38%, with HIVE leading the rally.

This stock surge follows Bitcoin’s price movement earlier on Wednesday, which reached new all-time highs above $75,000 as Trump made a significant political comeback.

During his campaign, Trump promised to support Bitcoin and the crypto industry if elected as president. His pledges included the removal of SEC Chairman Gary Gensler, commuting the sentence of Ross Ulbricht, and retaining the federal government’s Bitcoin holdings.

As of this publication, Bitcoin’s price stands at $74,362, pushing the hashprice back above $45/PH/s after a temporary decline on Tuesday, which followed the difficulty adjustment reaching 100 trillion for the first time.

Related:

Hut 8 Buys 6.7 EH/s of S21+ Bitcoin Miners for Fleet Upgrade

Bitcoin Hashprice Dips as Difficulty Tops 100 Trillion for First Time

Bit Digital Signs New HPC Client with Order of 300 GPUs

CleanSpark Surges 27% in Bitcoin Hashrate, Closing in on Rival MARA’s Top Spot