The year-to-date returns of most mining stocks, with the exception of Argo Blockchain and TeraWulf, have surpassed Bitcoin (BTC)'s gain of 101% so far this year.
The year-to-date returns of most mining stocks, with the exception of Argo Blockchain and TeraWulf, have surpassed Bitcoin (BTC)'s gain of 101% so far this year. The average return of the top eleven public mining companies stands at 148.59%, with Marathon Digital Holdings and Cipher Mining leading the gains, surging 120.67% and 356.00% respectively.
In comparison to Bitcoin, these mining equities have shown more volatility, or beta. Mining stocks routinely outperform Bitcoin over the first half of the year, but they retraced by an average of 50% during Bitcoin's third-quarter price decline.
Bitcoin mining companies have gained from the boom in Bitcoin Ordinals, resulting in an increase in mining revenue for these firms. Mining companies are also ramping up their operations and purchasing extra machines in preparation for the imminent halving event.
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