Mining Companies’ Surge Far Outpaces Bitcoin: Marathon and Bitfarms Have Already Surged Over 500% This Year
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Mining Companies’ Gains Far Exceed Bitcoin’s
Review of the Last Halving: Over Half of Mining Companies Outperform Bitcoin
Mining Companies’ Gains Far Exceed Bitcoin’s
The halving of block rewards often brings a bull market to the cryptocurrency market, but it also means that BTC earnings for miners and mining companies will decrease in the future. Therefore, investing in mining companies seems somewhat contradictory.
However, despite this, publicly listed mining companies have still benefited from the rise of Bitcoin this year and have seen astonishing gains. Apart from Argo Blockchain, which has seen a 162% increase on par with Bitcoin, the gains of other mining companies have far exceeded Bitcoin.
The companies with the highest gains are Marathon and Bitfarms, with increases of 628% and 577% respectively. The year-to-date gains of each publicly listed mining company are as follows:
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Argo Blockchain: 162%
Hut 8: 220%
HIVE: 220%
SATO Technologies: 258%
DMG Blockchain: 288%
Neptune Digital Assets: 288%
Riot Platforms: 397%
Bit Digital: 433%
CleanSpark: 473%
Cipher Mining: 533%
Bitfarms: 577%
Marathon Digital Holdings: 628%
Mining Companies’ Trends | Daily Chart
Review of the Last Halving: Over Half of Mining Companies Outperform Bitcoin
Looking back at the trends after the 2020 Bitcoin halving, the gains of mining companies were all quite fierce, and Marathon Digital Holdings’ gains were particularly impressive, seemingly unaffected by the potential impact of the halving on mining companies’ earnings.
Mining Companies’ Trends After the 2020 Halving | Daily Chart
Argo Blockchain
Bitfarms
Marathon
Bitcoin
Mining companies
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Mining Data: Publicly Listed Mining Companies Selling Coins to Stay Afloat, Sales Exceed Mining Output, Stock Prices Decline by 80%
Marathon Mining Company’s Bitcoin Production Nearly Doubled in the Third Quarter, Announces Another $100 Million Loan for Purchasing Mining Machines
