Cryptocurrency miners benefit from presidential directives: Jeffreys

 Cryptocurrency miners benefit from presidential directives

The presidential decree signed by President Biden strongly supports the crypto-asset industry, including crypto-asset (virtual currency) miners, and the US appears to be “leading” as crypto-assets become more important in the global economy. Jonathan Peterson is a client of Banks analyst Jefferies.

We believe the U.S. government now appears more aware, concerned, and supportive than ever before about the positivity of listed crypto mining companies.”

Peterson compared the situation in the United States with that in China, which completely banned cryptocurrency mining in the summer of 2021 and launched a new investment drive in North America. “We see the president's guidance as a new indication that the US regulatory environment is more conducive to mining companies and crypto sources,” he added.

Mr. Peterson reiterated his "acquisition assessment" of Argo Blockchain miner and Marathon Digital. Shares of both companies jumped about 15% at the same time, while for bitcoin (BTC) they were up about 9%. However, bitcoin has dropped about 16% since the start of the year, while miners' stock prices have dropped more than 30%.

Among other crypto-asset companies, trading services giant Coinbase grew about 9% and Galaxy Digital about 11%.

Crypto miners will benefit from Biden's executive order: Jefferies

Investment bank Argo has repurchased valuations of blockchain and digital marathon after the White House move on Wednesday.

Jeffries said President Joe Biden's executive order on crypto control broadly supports the digital asset industry, including crypto miners, and is trying to keep the US "on the future curve" As crypto has become a more important part of the global economy. Jonathan Peterson Attention customers.

“We believe that the US government now officially recognizes, embeds, and supports the digital resources industry, and we believe this will be a positive thing for public cryptocurrency miners.”

Peterson drew attention to the differences between the US and China, which last summer completely banned cryptocurrency mining and sparked a new wave of investment in North America. “We see this [executive] order as another indication that the regulatory environment in the United States is more conducive to miners and cryptocurrency,” he added.

Peterson reiterated the scores of Argo Blockchain (ARBK) and Marathon Digital (MARA) miners. Both shares are up about 15% at the same time as Bitcoin (BTC) 9%. However, the share of miners has dropped more than 30% since the beginning of the year, while the price of Bitcoin has dropped by about 16%.

Other crypto-related companies led by Coinbase (9%) and Galaxy Digital (BRPHF) were up 9% and 11%, respectively.

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