Cipher

Bitcoin

April

Northern

Bitcoin mining stocks have shown impressive gains over the past month, closing the gap with <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">Bitcoin's price</a> recovery. Analysts predict this trend will continue as mining firms adapt to new opportunities in cloud computing and AI, according to <a href="https://coingape.com/bitcoin-mining-stocks-may-soon-outperform-btc-in-near-term-heres-why/" rel="noopener noreferrer nofollow">Coingape</a>.&nbsp;
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The Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> event in April initially hit mining stocks hard. Investors anticipated lower mining revenues and higher costs. However, in the past two months, mining companies have rebounded strongly, aligning their stock performance with Bitcoin's price recovery.&nbsp;
On-chain data provider ecoinometrics reports that Bitcoin mining stocks are closing the gap with BTC. The launch of spot Bitcoin ETFs in the US and the anticipation of the Bitcoin halving led to poor performance initially. But now, <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> are pivoting to cloud computing and AI to boost revenues.
Northern Data, among other BTC mining players, is betting on these shifts to improve financial results by year-end. Econometrics added that Bitcoin miners often act as a leveraged bet on BTC, given their smaller stock sizes compared to their potential.
The largest US Bitcoin miner, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> Digital (NASDAQ: MARA), saw its stock price surge by 32% over the past month, compared to BTC's 5.26% gain. Riot Platform (NASDAQ: RIOT) rose 30%, and <a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/" rel="noopener noreferrer nofollow">Cipher</a> Mining (NASDAQ: CIFR) gained 44%. Market analysts expect this outperformance to continue, reflecting a broader recovery and adaptation within the Bitcoin mining industry.

Bitcoin Mining Stocks Poised to Outperform BTC in Near Term

Ultramining_Eng

دیگر آرٹیکلز 22 جولائی، 2024 پر پبلش کیے گئے ہیں

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