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Why Bitcoin Miners Soared This Week

TheMotleyFool

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Why Bitcoin Miners Soared This Week: https://g.foolcdn.com/editorial/images/816094/bitcoin-in-1-and-0.jpg

Bitcoin (CRYPTO: BTC) has been on fire this week, rising 12% over the past seven days as of 2 p.m. ET on Friday. Investors have been in "risk on" mode this week as trade tensions between the U.S. and nearly every country in the world seem to be easing, for now.

That helped companies downstream of Bitcoin's price, like Bitcoin miners. TeraWulf (NASDAQ: WULF) is up 36% this week, Riot Platforms (NASDAQ: RIOT) jumped 26.1%, and MARA Holdings (NASDAQ: MARA) is up 17% for the week.

Cryptocurrencies have jumped this week as trade tensions eased around the world. The tensions didn't technically have anything to do with cryptocurrencies, but they certainly impact the value of tokens.

Source Fool.com

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