Bitcoin rose in the last months of 2020 to new highs, and with it many alternative digital currencies such as Ethereum.

It seems that the impact of the rise of Bitcoin has reached even companies operating in the crypto sector.

Shares of companies involved in the cryptocurrency space, especially those related to bitcoin mining, rose.

Shares of miner HIVE Blockchain Technologies rose 27% yesterday.

Shares of the “Colorado-based mining company Riot Blockchain” rose 22%, and shares in “Marathon Patent Group”, one of the largest mining companies in the United States, increased by 12%.

Last week, both Riot and Marathon announced that they had upgraded their mining equipment.

Mining company Canaan Creative also rose nearly 10%.

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The potential increase in the value of the shares is due to the record high price of Bitcoin yesterday, as the price of Bitcoin reached a new all-time high of more than $28,000.

Then its price fell, but it has remained stable ever since.

As of today, the price of bitcoin is just under $27,000, according to CoinMarketCap data.

With more people investing in bitcoin and using the currency, more mining power is needed to process transactions and keep the network running smoothly.

It is an expensive and energy-intensive process, but is now more necessary than ever.

Torkel Rogstad, a software developer at Arcane, said the returns could be huge, and that increases in miners’ stock prices are likely to come back to traditional investors who are facing constraints in buying bitcoin as a currency in itself.

He added, explaining:

If I had to pin it down to one thing, it’s possible that the lack of bitcoin investment opportunities is the reason why investors are moving to bitcoin mining companies.

I can personally invest in anything I want, but if you are investing in your pension portfolio, you may only be allowed to invest in stocks.

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Same goes for funds, they usually have very strict rules of what they can invest in, their so-called investment mandate.

So investing in bitcoin companies can be a way for traditional financial institutions money to get bitcoin, even if they are not allowed to invest in bitcoin directly.

Companies that put their money in bitcoin are doing well, too.

MicroStrategy is investing heavily in Bitcoin and when Bitcoin is up, its shares are also up about 15%.

Also, ETFs that invest in companies linked to cryptocurrency have been seeing good returns lately.

Therefore, it can be said that the price of Bitcoin is not the only one to rise.

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