On Monday, United States stocks related to cryptocurrencies saw an increase in value, following a general market upswing shortly after the Bitcoin BTC $66,030 halving event. Some of these stocks recorded double-digit percentage gains. The five largest publicly traded Bitcoin miners in the country, namely Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), Cipher Mining (CIFR), and Hut 8 (HUT), all saw positive growth on April 22 and continued to rise during after-hours trading.

The Valkyrie Bitcoin Miners ETF (WGMI), which includes mining stocks and certain chipmakers like Nvidia (NVDA), surged by 11% during regular trading hours and an additional 3% in after-hours trading, reaching $16.69. Despite the halving of Bitcoin mining rewards to 3.125 BTC per block on April 20, these crypto stocks displayed notable price increases. The halving occurred just after midnight UTC on April 19, which translates to 8:09 pm in New York.

David Donabedian, the investment chief at CIBC Private Wealth, linked the market’s recent downturn to factors such as high inflation rates, escalating bond yields, and speculation surrounding potential rate cuts by the Federal Reserve. Following the halving, Bitcoin’s price rose by 4.5% to \(66,810. Furthermore, leading cryptocurrency exchange Coinbase observed a 7% surge, reaching \)225.86, with a slight additional increase of 0.8% after regular trading hours. Similarly, MicroStrategy (MSTR), a software company specializing in Bitcoin investments, reported a daily gain of 12.7%, extending to 2.5% after hours, reaching $1,357, as detailed by Cointelegraph.