Cryptocurrency mining firms have been hammered hard in recent weeks as cryptocurrency values have dropped. The most popular cryptocurrency, Bitcoin, has fallen from a peak of $64,000 in April to roughly $30,000. Alternative digital currencies and crypto-related stocks have also experienced a drop in value. The stock price of cryptocurrency mining companies has dropped in recent days. Cathie Wood, Stanley Druckenmiller, and Ray Dalio, among others, are bullish on cryptocurrency’s future. Some experts believe that this is merely a blip on the radar for the new technology. In recent days, crypto stocks have taken a knock. Jack Dorsey, Elon Musk, and Balaji Srinivasan, among others, have encouraged technology to recover from its present slump. Investors can find reassurance in industry leaders’ predictions about the future of technology.
Here is Insider Monkey’s list of the 10 companies that benefit from crypto mining. Honeywell International Inc. is a multibillion-dollar international corporation with holdings in aircraft, technology, and manufacturing. On the list of ten companies that profit from crypto mining, the company is ranked tenth. Over the last year, its stock has returned 49 percent to investors. ZK International Group Co. Ltd. is a Chinese pipe and fittings manufacturer. Over the last year, investors have received a 188 percent return on their investment in the company’s stock. The company’s CEO stated that the company intended to expand and enter areas such as the United States. On the list of 10 firms that profit from crypto mining, MicroStrategy Incorporated is ranked eighth. Over the last few months, the stock has returned more than 370 percent to investors. It holds 105,085 bitcoins worth $2.7 billion in total. The Silvergate Bank is owned by Silvergate Capital Corporation, a holding corporation. Over the last year, the company’s stock has returned more than 546 percent to investors. Its stock is ranked seventh in the ranking of the top ten crypto mining businesses. On the list of ten corporations that profit from crypto mining, IBM is rated sixth. The company has its own cloud-based service for blockchain engineers, which would profit from a rise in crypto coin mining because it would promote this service. In the last few months, IBM’s stock has returned 22% to investors. For more details, click 10 Companies that Benefit from Crypto Mining.
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