Early this morning, Bitcoin hit an all-time high of $50,000. In the last month, Bitcoin has run up over 39% -— energized by Elon Musk and Tesla’s endorsement, a swath of new investors, and renewed interest around crypto.
Some Bitcoin mining companies made repeat appearances on today’s Rippers. These included Marathon Patent Group and Riot Blockchain, which both rose over 13% today. $MARA and $RIOT have more than doubled this year as they announced plans to expand their Bitcoin mining operations.
One of the biggest movers was the small-cap crypto mining company SOS Limited, which recently announced it would add over 5,000 miners to their infrastructure. $SOS was one of the most-shorted stocks before it suddenly broke out over 59% in trading today.
Joining these sophisticated Bitcoin mining operations was one of the few publicly traded companies that builds the miners. Canaan, which builds Bitcoin ASIC miners, broke out over 50.6% today.