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Bitcoin prices climbed on Tuesday and pushed bitcoin mining stocks higher during the trading session.
Bitcoin traded around $92,300 as of early Tuesday morning, a 1.27% increase over the last 24 hours and 5.57% increase year-to-date.
Bitcoin mining stocks followed suit. HIVE (NASDAQ: HIVE) secured the highest gains for the day. The stock increased 4.5% to reach a price of $3.40 during morning trading hours.
CleanSpark (NASDAQ: CLSK) and TeraWulf (NASDAQ: WULF) recorded sizable increases. CleanSpark shares rose 2.55% to reach $12.26. TeraWulf saw its stock price climb 2.75% to $14.19.
Bitfarms (NASDAQ: BITF) rose 2.15% to $3.12 following the market open.
IREN (NASDAQ: IREN) also posted gains above the two percent threshold. The stock moved up 2.13% to a price of $51.40. Cipher Mining (NASDAQ: CIFR) followed closely with a similar upward trend. Cipher shares increased 2.09% to trade at $18.05.
MARA (NASDAQ: MARA) and Riot (NASDAQ: RIOT) participated in the rally with gains under one percent. MARA shares advanced 0.33% to $10.68, while Riot increased 0.55% to trade at $16.54.
Core Scientific (NASDAQ: CORZ) also rose by a smaller margin, with its stock increasing by 0.34% to $17.54.
Hut 8 (NASDAQ: HUT) saw the smallest gain among the group. Hut 8 shares moved up 0.1% to trade at $61.15.
Header image by Yashowardhan Singh via Unsplash.