By Dean Seal

Shares of cryptocurrency miners fell Friday after the price of Bitcoin dropped below $20,000 and erased gains seen earlier this week.

Iris Energy Ltd. dropped 15% to $3.75 Friday after the sustainable bitcoin mining company published its monthly investor update for September, which noted that while the amount of bitcoin mined was up 8% compared with August, monthly operating revenue was down 6%.

Cleanspark Inc. shares declined more than 6% to a low of $3.01, one penny off of its 52-week low. The bitcoin miner's shares are down 68% this year.

Shares of the Toronto-based Bitcoin self-mining company Bitfarms Ltd. were down 8% to $1.01, touching its 52-week. They are down almost 80% this year.

The crypto miner Hive Blockchain Technologies Ltd.'s shares retreated more than 6% to $3.74. They are down almost 72% this year.

Bitcoin is down more than 59% this year to $19,446 as of 1:36 p.m. ET. After a shaky few weeks under $20,000, Bitcoin's price started to recover Tuesday and hovered at or above the $20,000 level before sinking around noon.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 07, 2022 14:07 ET (18:07 GMT)

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