Bitcoin Miners Fall Even as CEOs Say They’re Ready for Halving

Bitcoin miners are seeing a sharp decline in their stock prices as a code update for the largest cryptocurrency that will drastically reduce revenue is set to happen later this week.

Shares of Marathon Digital Holdings Inc., Riot Platforms Inc. and CleanSpark Inc. all fell for at least a third consecutive day on Tuesday. The Valkyrie Bitcoin Miners exchange-traded fund has tumbled by around 28% this month.

The downward trend continues with short interest in crypto-mining stocks piling up and Iran’s attacks against Israel over the last weekend prompting the shift to a risk-off environment for investors. But ...