Bitcoin

<p>Bitcoin's dramatic ascent to a record $73,000 has eclipsed much of the financial news, overshadowing ominous 'Death Cross' signals for HIVE Digital Technologies Ltd (HIVE) and Bit Digital Inc (BTBT). These two titans of crypto mining are currently navigating through the treacherous waters of market volatility and technical bearish indicators. Despite Bitcoin's monumental rally, HIVE has been innovative, leveraging energy efficiency and AI to steer its operations amidst challenges like Intel’s ASIC chip discontinuation. With a 38% Gross Operating Margin and mining 830 Bitcoin, HIVE's resilience is evident, though its stock has wavered with a 30.68% drop year-to-date, according to <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37668879/bitcoins-record-rally-to-73k-overshadows-death-cross-signals-in-two-crypto-mining-stocks">Benzinga</a>.</p> 
<p>Bit Digital's journey mirrors this volatility, with a significant past year rise but a near half reduction in value year-to-date. February's <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">production</a> slightly declined to 128.7 BTC, amidst its diversification into digital asset staking. The 'Death Cross', a dreaded technical indicator, has manifested for both companies, historically seen as a precursor to potential downtrends. This aligns with economist Peter Schiff's concerns about the dissonance between Bitcoin mining <a href="https://ultramining.com/news/en/crypto-mining-stocks-outshine-bitcoins-performance-in-2023/">stocks</a> and the asset's rally, hinting at underlying market corrections.</p>

Amid Bitcoin’s Spectacular Surge, Mining Giants Face Market Warnings

Ultramining_Eng

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