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Bitcoin rally continues and pushes a number of stocks to rise


July, 20 2022
watermark Economic news

Yesterday's sharp rally of bitcoin continues today. The current BTC quote is $23982, although recently a local minimum was recorded in the region of $ 20 thousand. The growth of the most popular cryptocurrency has had a bullish effect on some stocks related to the digital currency market. 


The most impressive growth was demonstrated by the shares of Applied Blockchain Inc. – securities rose by 100% during yesterday's afternoon session and are expected to continue their growth today. On the premarket, the shares rose by almost 13%. 


Additional support for the securities of the cryptomining hosting provider was provided by the announcement of a partnership with Marathon Digital. Thanks to this collaboration, Applied, which went public only last year, also signed a new 5-year agreement to allocate about 200 megawatts (MW) to Marathon, one of the largest bitcoin mining companies. 


On this news, the shares of Marathon Digital Holdings Inc jumped by 32.17% during yesterday's session and are currently up more than 4% in the premarket.



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