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Three Major US Stock Indices Open High as Blockchain Concept Stocks Strengthen

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According to reports, the three major US stock indices collectively opened high, with the Dow up 0.12%, the Nasdaq up 0.97%, and the S&P 500 up 0.27%. Blockchain concept stocks col

Three Major US Stock Indices Open High as Blockchain Concept Stocks Strengthen

According to reports, the three major US stock indices collectively opened high, with the Dow up 0.12%, the Nasdaq up 0.97%, and the S&P 500 up 0.27%. Blockchain concept stocks collectively strengthened, with Marathon Digital up over 12%, Riot Blockchain up over 11%, Coinbase and Jianan Technology up over 7%, and MicroStrategy up over 6%.

Three major US stock indices collectively opened high

The three major US stock indices collectively opened high, with the Dow up 0.12%, the Nasdaq up 0.97%, and the S&P 500 up 0.27%. At the same time, blockchain concept stocks collectively strengthened, with Marathon Digital up over 12%, Riot Blockchain up over 11%, Coinbase and Jianan Technology up over 7%, and MicroStrategy up over 6%.

The Stock Market Overview

The US stock market opened high on Tuesday, with gains across major indices. The Dow Jones Industrial Average (DJIA), which tracks 30 blue-chip stocks, gained 32.40 points, or 0.12%, to open at 34,844.06. Meanwhile, the S&P 500 Index opened at 4,390.74, up 11.92 points, or 0.27%, and the tech-heavy Nasdaq Composite Index gained 146.20 points, or 0.98%, to open at 15,039.25.

Blockchain Concept Stocks Rise

While the overall market rose, blockchain concept stocks showed notable strength, led by Marathon Digital, which gained over 12%. Riot Blockchain rose over 11%, Coinbase and Jianan Technology both surged over 7%, and MicroStrategy climbed more than 6%.

Marathon Digital

Marathon Digital is a leading digital asset technology and cryptocurrency mining company that operates in North America. It utilizes renewable energy to mine Bitcoin and other cryptocurrencies, making it a more sustainable alternative to traditional mining methods. During the second quarter of 2021, Marathon Digital mined a total of 654.3 Bitcoins.

Riot Blockchain

Riot Blockchain is another cryptocurrency mining company that has a focus on Bitcoin mining. The company owns and operates the largest Bitcoin mining facility in North America, with a total of 32,500 miners in its facility in Texas. Riot Blockchain has been expanding its mining operations, with plans to more than triple its current hash rate by the end of 2022.

Coinbase

Coinbase is a cryptocurrency exchange platform that allows customers to buy, sell, and store cryptocurrencies. The company went public on April 14, 2021, with an initial public offering (IPO) that valued the company at over $85 billion. Since going public, Coinbase has remained a popular choice for retail cryptocurrency investors.

Jianan Technology

Jianan Technology is a China-based company that designs and manufactures cryptocurrency mining hardware. The company’s mining hardware is used in Bitcoin and other cryptocurrency mining operations worldwide. In July 2021, Jianan Technology announced a deal to supply Bitcoin mining machines to Bitmain, one of the world’s leading Bitcoin mining companies.

MicroStrategy

MicroStrategy is a business analytics software company that has gained attention for its large Bitcoin holdings. In August 2020, MicroStrategy announced that it had purchased 21,454 Bitcoins, worth approximately $250 million at the time. Since then, the company has continued to increase its Bitcoin holdings, with the CEO, Michael Saylor, famously stating that Bitcoin is a better store of value than cash.

Conclusion

The US stock market opened high on Tuesday, with gains across major indices. Additionally, blockchain concept stocks showed notable strength, with Marathon Digital, Riot Blockchain, Coinbase, Jianan Technology, and MicroStrategy all posting gains. As the cryptocurrency market continues to grow and gain mainstream acceptance, it’s likely that we’ll see more companies in this space enter the public market.

FAQs

1. What is Marathon Digital?
Marathon Digital is a digital asset technology and cryptocurrency mining company that operates in North America.
2. What is the largest Bitcoin mining facility in North America?
Riot Blockchain operates the largest Bitcoin mining facility in North America, with a total of 32,500 miners in its facility in Texas.
3. What is Coinbase?
Coinbase is a cryptocurrency exchange platform that allows customers to buy, sell, and store cryptocurrencies.

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