{"id":349539,"date":"2024-07-22T18:02:44","date_gmt":"2024-07-22T12:32:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-mining-stocks-may-soon-outperform-btc-in-near-term-heres-why-crypto-news\/"},"modified":"2024-07-22T18:06:49","modified_gmt":"2024-07-22T12:36:49","slug":"bitcoin-mining-stocks-may-soon-outperform-btc-in-near-term-heres-why-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-mining-stocks-may-soon-outperform-btc-in-near-term-heres-why-crypto-news\/","title":{"rendered":"Bitcoin Mining Stocks May Soon Outperform BTC In Near Term, Here\u2019s Why – Crypto News"},"content":{"rendered":"

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Along with the sharp recovery in the Bitcoin price over the past three weeks, stocks of the Bitcoin mining firms have also joined the recovery process. Stocks of the public-listed crypto mining firms took a major hit following the Bitcoin halving event in April. However, over the past few months, these BTC mining stocks have given a strong recovery aligning with the BTC price recovery.<\/p>\n

Bitcoin Mining Stocks to Outperform BTC<\/h2>\n

As per on-chain data provider ecoinometrics, Bitcoin mining stocks have been closing the gap with BTC. After the launch of the spot Bitcoin ETFs<\/a> in the US in January, and until the Bitcoin halving event, the Bitcoin mining stocks performed poorly. This was mainly because investors sold the stocks in anticipation of declining mining revenues\/rewards, and growing costs post the halving event.<\/p>\n

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But over the past two months, the BTC mining industry has been making efforts to consolidate its operations and pivot to more lucrative areas such as cloud computing and AI.<\/p>\n

The BTC mining players like Northern Data<\/a> are now betting on these major shifts to boost their revenue numbers by the end of this year. As things seem to be improving further, ecoinometrics shows that the BTC mining stocks could outperform Bitcoin going ahead.<\/p>\n

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The Bitcoin miners are closing the gap with BTC.<\/p>\n

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Between the launch of the Bitcoin ETFs and the halving, miners\u2019 stocks performed poorly.<\/p>\n

But things are changing. We\u2019re now waiting to see them outperform BTC in the next breakout. pic.twitter.com\/ejPoetbeLV<\/a><\/p>\n

\u2014 ecoinometrics (@ecoinometrics) July 22, 2024<\/a><\/p>\n<\/blockquote>\n

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\u201cIn the previous cycle, Bitcoin miners acted as a leveraged bet on BTC. We believe this is still valid given the small size of miners\u2019 stocks compared to their potential,\u201d added econometrics.<\/p>\n

Also Read: Bitcoin Hashrate Prints Sharp Recovery As BTC Price Eyes Rebound<\/a><\/p>\n

A Look Into How BTC Mining Stocks Have Performed<\/h2>\n

Some of the top public-listed Bitcoin mining companies in the US have registered strong recovery over the past month. The largest Bitcoin miner Marathon Digital (NASDAQ: MARA) stock price has surged by 32% over the past month while the BTC price<\/a> gains stand at 5.26% in the same period.<\/p>\n

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Other players like Riot Platform<\/a> (NASDAQ: RIOT) have seen a 30% surge in the stock price over the price month while Cipher Mining (NASDAQ: CIFR) stock gained a staggering 44% over the past month. Market analysts are expecting this outperformance to continue going ahead.<\/p>\n

Also Read: Bitcoin Price Analysis As Smart Money Continues Buying Spree; Is $75k Next?<\/a><\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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