---
title: "Bitcoin mining stocks notch $200M trading volume as GBTC outtrades ‘99% of ETFs’"
url: https://diffcoin.com/bitcoin-mining-stocks-notch-200m-trading-volume-as-gbtc-outtrades-99-of-etfs/
description: "Crypto mining firms saw robust trading volumes on American bourses on Monday, with some mining shares even outpacing well-known U.S. tech giants. The…"
published: 2024-01-09
updated: 2024-01-09
author: "Mila"
site: "Diffcoin"
---

# Bitcoin mining stocks notch $200M trading volume as GBTC outtrades ‘99% of ETFs’

Crypto mining firms saw robust trading volumes on American bourses on Monday, with some mining shares even outpacing well-known U.S. tech giants.

The total trading volume among four mining firms — Marathon Digital, Riot Platforms, Cleanspark, and Terawulf — was a combined $208 million on Jan. 8, according to data from Yahoo Finance.

Marathon Digital (MARA) even secured the position as the top-traded stock in the United States on the day with a volume of $112 million, according to Yahoo.

This put the Bitcoin miner ahead of Tesla, AMD, Nvidia, and Apple by a clear margin. Tesla, the second most traded stock in the U.S. on Monday, had a daily trading volume of around $85 million comparatively.

*U.S.-listed companies ranked by volume as of Jan. 8. Source: Yahoo Finance*

Meanwhile, Grayscale’s Bitcoin Trust (GBTC) traded close to half a billion on Jan. 8, which is more than 99% of the 3,000 current ETFs, observed industry expert Eric Balchunas.

He added a reminder that “they are bringing a (volume) gun to a knife fight if they launch with everyone else,” in reference to the anticipated pending approval of spot Bitcoin ETFs this week.

Grayscale hopes to convert or “uplist” its fund to a spot ETF, pending a green light from the Securities and Exchange Commission.

> [$GBTC](https://twitter.com/search?q=%24GBTC&src=ctag&ref_src=twsrc%5Etfw) traded close to half a billion today, which is more than 99% of the 3000 current ETFs, and reminder that they are bringing a (volume) gun to a knife fight if they launch with everyone else. That said, the 1.5% fee will act as a repellent. Another fascinating sub-plot. [pic.twitter.com/506EG3PR7t](https://t.co/506EG3PR7t)
> 
> — Eric Balchunas (@EricBalchunas) [January 8, 2024](https://twitter.com/EricBalchunas/status/1744476227123994764?ref_src=twsrc%5Etfw)

***Related:*** ***Spot Bitcoin ETF issuers file amended S-1 applications — Now await SEC approval***

Marathon’s outperformance comes amid a wider boom in the Bitcoin mining sector. On Jan. 8, Core Scientific secured a $55 million equity investment as it emerged from its debt crisis.

As reported by Cointelegraph, the $55-million equity offering expired last week and was oversubscribed. The firm plans to relist on the Nasdaq exchange after bankruptcy proceedings are finalized, joining the high-flying mining stocks outperforming this week.

Additionally, CleanSpark announced a strategic agreement that could see it purchase up to 160,000 miners by the end of 2024.

***Magazine:*** ***10 best long reads about crypto in 2023***

[Source link](https://cointelegraph.com/news/bitcoin-mining-stocks-trading-volume-grayscale-gbtc-etf)