Bitcoin surges, but mining companies lag behind
Since the start of the bull market, stocks tied to cryptocurrencies have generally followed Bitcoin’s recent upward trend. However, mining companies show a very different trajectory. Since August 17, the price has gained roughly 22%, while exchange platforms and companies have moved more in line with the broader market. This divergence draws attention to miners’ stock-market performance, even as several players are also building computing infrastructure for artificial intelligence.
Bitcoin is up around 22% since August 17, while mining stocks have advanced much less.
Canaan remains the only miner that has outperformed Bitcoin, while the other ten companies are trailing.
Core Scientific and Terawulf have underperformed Bitcoin by 27% and 24%, respectively.
Several miners are shifting toward AI data centers to diversify their activities ahead of crypto market cycles.
Bitcoin miners stay on the sidelines
Since August 17, the price of bitcoin has risen 22%. Trading platforms and companies have tracked this increase. Bullish, Coinbase, and Robinhood are among the companies mentioned in Block’s report. For stablecoins, Circle and Figure are included—Figure is a company specialized in tokenized mortgage lending that completes this group.
Mining firms show a less favorable picture. Canaan is the only exception, having outperformed Bitcoin. The other ten mining companies have underperformed BTC. Their median profitability stands at just 1.8%.
$BTC $BUL.ETF $MINA #MineriaBTC