Bitfarms, Ltd (NASDAQ:BITF) and Hut 8 Mining Corp (NASDAQ:HUT) skyrocketed up 20% and 13.5%, respectively, at one point on Monday, in reaction to Bitcoin (CRYPTO: BTC), which soared almost 6% higher over the weekend when the general markets were closed. The spike was also partly due to Bitfarms printing strong earnings results in the premarket.
The move higher supplied the two crypto miners with continued momentum in their uptrends, which Bitfarms and Hut 8 reversed into on March 15 after each stock printed a bullish double bottom pattern on that date and the trading day prior.
