Bitcoin miners, in the form of Marathon Digital Holdings, Inc. (MARA) and Riot Platforms, Inc. (RIOT), witness a surge in their stock prices on Wednesday as Bitcoin (BTC/USD) trades above $51,000.

Market Trends:

The surge in Bitcoin miners like Marathon Digital and Riot Platforms aligns with Bitcoin’s upward movement, approaching the $52,000 mark as of now.

Following Bitcoin surpassing the $51,000 milestone on Wednesday, it has regained $1 trillion in market capitalization, a level last seen in 2021.

The recent approval of spot Bitcoin ETFs coupled with institutional investments is fueling Bitcoin’s current rally. Moreover, investors are eagerly awaiting the upcoming Bitcoin halving set for April.

Anticipating reduced revenue post-halving, Bitcoin miners are honing their operations for efficiency and financial stability in advance of the event.

Renowned Needham analyst John Todaro upheld a Buy rating for Riot Platforms and adjusted the price target from $19 to $18 on Tuesday.

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Stock Performance: According to Benzinga Pro, Marathon Digital shares surge by 11% to $28.57, while Riot Platforms’ shares witness an 8.65% increase, reaching $16.78 at the time of reporting.

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