Over the past five trading days, both the Nasdaq 100 and the S&P 500 saw slight declines, reflecting cautious sentiment in broader markets. With that in mind, let’s take a closer look at how the Bitcoin mining sector has performed.
Index Update
5-D Volatility: Over the last trading week, both mining stocks and Bitcoin have shown similar levels of volatility.Here’s how they performed compared to other major stocks 👇👇
Major Company Updates
- IREN closes upsized $550 million convertible notes offering (link)
- Soluna inks $20 M from Spring Lane Capital to launch Project Kati 1 (link)
- IREN prices upsized $500 million convertible notes offering (link)
- Canaan Inc. announces share purchases by Chief Executive Officer and Chief Financial Officer (link)
- Riot Platforms, Inc. reports beneficial ownership of 14.3 % in Bitfarms (link)
- Cango Inc. accelerates strategic transformation into global Bitcoin mining with divestiture of PRC business, new shareholders and acquisition of additional mining capacity (link)
As companies release their May operational updates, it’s clear that miners continue to scale up their hash rates. (View the latest data)
That’s all for this week! Feel free to drop us a message if you have any suggestions, feedback, or just want to say hi.
Thanks for being part of our journey-see you next week!
Cindy & the BMS Team 💜