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<h2 id="quick-take">Quick Take</h2> 
<p>Over the past half-year, a notable divergence was observed between Bitcoin and the prices of Bitcoin mining stocks. However, the past fortnight has witnessed a remarkable turnaround in this trajectory.</p> 
<p>Bitcoin has appreciated by a modest 5.37%. Here’s how various Bitcoin mining stocks have performed:</p> 
<table> 
 <thead> 
  <tr> 
   <th>Bitcoin Miner</th> 
   <th>%</th> 
  </tr> 
 </thead> 
 <tbody> 
  <tr> 
   <td>CLSK</td> 
   <td>65%</td> 
  </tr> 
  <tr> 
   <td>IREN</td> 
   <td>42%</td> 
  </tr> 
  <tr> 
   <td>MARA</td> 
   <td>31%</td> 
  </tr> 
  <tr> 
   <td>WULF</td> 
   <td>30%</td> 
  </tr> 
  <tr> 
   <td>RIOT</td> 
   <td>28%</td> 
  </tr> 
  <tr> 
   <td>WGMI</td> 
   <td>19%</td> 
  </tr> 
  <tr> 
   <td>HIVE</td> 
   <td>7%</td> 
  </tr> 
  <tr> 
   <td>HUT</td> 
   <td>3%</td> 
  </tr> 
 </tbody> 
</table> 
<p style="text-align: center; font-size: small;">Source: Trading View</p> 
<p>Following <em>CryptoSlate’s</em> posting of the <a href="https://cryptoslate.com/insights/bitcoin-and-mining-etf-pathways-diverge-reflecting-shift-in-investor-strategies/">divergence</a>, Bitcoin has appreciated by a modest 5.37%. Nevertheless, the real story lies in the resurgence of Bitcoin mining stocks, with the majority posting double-digit growth.</p> 
<p>Cleanspark (CLSK), a standout performer, soared by 65%, followed by IREN, which increased by 42%. Meanwhile, MARA, WULF, and RIOT exhibited robust growth with increases of 31%, 30%, and 28% respectively. WGMI and HIVE slightly lagged yet still posted healthy gains of 19% and 7%. The sole outlier was Hut 8 (HUT), which experienced a modest 3% uptick.</p> 
<p>In addition, on Nov.22, <em>CryptoSlate</em> identified a disparity between the gold miners’ ETF, GDX, and spot gold prices, with GDX seemingly trailing behind. Since that <a href="https://cryptoslate.com/insights/bitcoin-and-gold-show-similar-trends-as-miner-shares-fall-behind-spot-prices/">observation</a>, gold has escalated toward its all-time high, while GDX has experienced a significant uptick of 7%.</p> 
<p>This reversal indicates a promising upward price discovery for Bitcoin mining companies, signaling potential investor confidence in the sector’s profitability.</p> 
<figure id="attachment_377731" aria-describedby="caption-attachment-377731" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-377731 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/btc-miners.png" alt="Miner Share Prices vs BTC: (Source: Trading View)" width="1410" height="883" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/btc-miners.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/11/btc-miners-300x188.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/btc-miners-1024x641.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/btc-miners-768x481.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-377731" class="wp-caption-text">
  Miner Share Prices vs BTC: (Source: Trading View)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/bitcoin-miners-outshine-bitcoin-in-market-rebound/">Bitcoin miners outshine Bitcoin in market rebound</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin miners outshine Bitcoin in market rebound

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