Quick Take
Over the past three months, the Bitcoin landscape has presented a striking anomaly. Bitcoin, the flagship cryptocurrency, has experienced a 20% surge, climbing near its year-to-date (YTD) high, around $35,000. Conversely, this upward momentum appears to have bypassed Bitcoin mining stocks, which have reported a substantial decline.
Prominent mining stocks such as Cleanspark, Bitfarms, Hut 8, and WGMI all recorded declines between 15% and 25%. More dramatically, Riot Blockchain and Marathon Digital Holdings saw reductions of 32% and 39%, respectively, while Iris Energy reported a substantial 41% drop. This divergence is especially significant given Bitcoin’s performance.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.