Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
Crypto Potato 2024-12-25 16:46:58

Major Declines in BTC Mining Stocks Despite Bitcoin’s 128% YoY Rally

Major Declines in BTC Mining Stocks Despite Bitcoin’s 128% YoY Rally

The cryptocurrency market has been on a rollercoaster, especially in the last couple of months, with Bitcoin rallying 128% year-on-year as of Christmas Day. However, despite the bullish trends, the impressive performance hasn’t translated into gains for publicly listed Bitcoin mining companies, with many of their stocks showing significant declines. Mining Stocks Falter Despite Market Gains Data from the Hashrate Index shows that several major players in the sector are experiencing downturns. The biggest losses were recorded by Argo Blockchain. The stock of the UK-based BTC miner with a 1,500 PH/s hashrate has plunged 84.31% year-to-date (YTD), accompanied by a 5% dip over 24 hours. Greenidge, which operates two main data centers in Dresden, New York, and Spartanburg, South Carolina, also suffered major losses, going down nearly 9% in the last day and more than 74% YTD. Other poorly performing stocks included Sphere 3D, whose market cap fell to $23 million after share prices dipped by 4.22% overnight and 71.32% since the year began. Mawson Infrastructure Group and Ebang International also registered 70% and 53% drops in their YTD values, respectively, with the same scenario replicated in their 24-hour performances, where both fell more than 4%. Bigger capped firms such as Riot Platforms, with a recorded hashrate of 29,400 PH/s, also posted notable losses, sliding almost 8% in the last day and 29.92% YTD. On its part, Marathon Digital reported a 3.56% reduction over 24 hours and a more significant 16.05% from the year’s start. Outliers Reaping From Bitcoin’s Surge On the brighter side, companies like TeraWulf bucked the trend, posting a YTD surge of 152.61%, pushing its stock price to $5.81. Interestingly, it suffered the worst one-day dip of all BTC-miner stocks, shedding more than 12% from its price in that period. Similarly, Bitdeer gained 131% across 12 months, boosted by a slight 0.15% increase in the last 24 hours to breach the $20 mark. Other stocks that showcased resilience included Hut 8 Mining and Northern Data, with a combined hashrate of 8,400 PH/s, whose prices have jumped 71.83% and 65.73% in that order. This divergence between BTC’s bullish run and the mining sector’s struggles highlights the complexity of virtual asset investment. It continues to dominate the crypto market, with a 5% increase since December 24, to push its price to just below $99,000. However, the world’s largest virtual asset by market cap is down 5.6% across seven days, balanced by the 128% it has gained since January. Elsewhere, statistics recently shared by CryptoQuant CEO Ki Young Ju revealed that institutional holders of the OG crypto have spiked to 31% from only 14% in 2023. The uptick has been driven by the growing popularity of spot Bitcoin exchange-traded funds (ETFs), government acquisitions, and the effect of MicroStrategy’s BTC-buying spree. The post Major Declines in BTC Mining Stocks Despite Bitcoin’s 128% YoY Rally appeared first on CryptoPotato .

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.