According to sell short research firm S3 Partners, short sales of bitcoin mining stocks have surged 50% in the past 30 days to $4.60 billion. This is the highest level in 2024.
Shares of bitcoin miners Riot, Marathon Digital and CleanSpark have risen 86%, 55% and 73% respectively since September, far outpacing bitcoin's gains. Matthew Unterman, managing director of S3 Partners, said he believes such a rapid rise could trigger a sell short squeeze and lead to market turmoil.
Shorts on crypto mining stocks hit a new high for the year in the past 30 days, reaching $4.60 billion
2024-11-15 22:52:07
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