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When looking at the price of Bitcoin, the concern also extends to altcoins; However, this should extend to companies associated with BTC-related activities.
In this context, BeInCrypto analyzed the performance of the shares of three Bitcoin mining companies and what awaits them in the future.
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BitMine Immersive Mining Techniques (BMNR)
BMNR is down 24% this week and is trading at $30.95. Despite the decline, But Bitmine persisted In the ETH accumulation, it has added 54,156 ETH worth more than $170 million in the last seven days. This indicates a strong long-term commitment by the company.
The RSI is approaching oversold territory, which often precedes a reversal. If conditions stabilize, BMNR could rebound from the $30.88 support and head towards $34.94 or even $37.27, providing relief after a week of heavy losses.
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If Bitcoin weakens further, BMNR may follow the broader downtrend. A deeper decline could see the stock fall below $27.80, with a potential extension to $24.64. This will invalidate the bullish outlook and indicate the strength of the downward momentum.
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BTDR Technologies Group (BTDR)
Bitdeer recorded some of the biggest losses among Bitcoin mining stocksIt decreased by 53% in seven sessions. The stock price is now at $10.63, reflecting intense selling pressure as broader market weakness continues to weigh on mining companies.
BTDR’s RSI is in oversold territory, indicating conditions that often precede a reversal. If buyers enter, the stock could recover from $9.56 and move towards $11.92, with the potential for any further increase to $15.24 if the momentum strengthens.
If market conditions fail to improve, the BTDR could continue to decline. A drop below $9.56 could take the price towards $7.96. This will invalidate the bullish outlook and indicate a further downside for Mining company.
HIVE Digital Technologies Co., Ltd. (HIV)
Bitcoin mining company HIV It fell 29% last week, but is now trading at $3.56 after a 7% rise today. The increase comes after the company announced revenue growth of 285% in the second quarter, which boosted investor confidence despite recent volatility.
This strong performance could fuel a broader recovery and lift HIVE towards $4.04. Retrieving recent losses would require a move towards $5.09. Achieving this goal may take time, but remains possible if momentum and funding continue to improve.
If the stock fails to capitalize on the company’s earnings power, HIVE can resume its decline. A decline towards the support level at $3.00 or lower will invalidate the bullish thesis and indicate renewed weakness.
