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Bitcoin mining stock report: Monday, November 7

Quick Take

  • Monday was a mixed day for bitcoin miners as Iris Energy said it was issued a default notice.
  • Most bitcoin mining stocks tracked by The Block started the week trading down.

Most bitcoin mining stocks tracked by The Block traded down to start the week, while bitcoin was trading at around $20,806 by market close, according to data from TradingView.

BTCUSD chart by TradingView

Elsewhere, Iris Energy said two of its miners received a notice of default on more than $100 million in debt. The mining operator said that the lender alleges they have failed to enter into “good faith” debt restructuring negotiations, according to a filing with the Securities and Exchange Commission. Last week the firm warned of the possible default notice, noting the miners generate $2 million bitcoin a month — $5 million short of the monthly payment. 

Here’s how crypto mining companies performed on Monday, Nov. 7: