Bitcoin mining stock prices outperformed BTC in H1 2023
Bitcoin mining stock prices outperformed bitcoin prices in H1 2023, recent data shows. Comparing the performance of the top nine public bitcoin (BTC) mining firms, based on market capitalization, reveals that their average year-to-date stock price are up by over 250% in 2023. At this level, it is over 3X the performance of the world’s most valuable coin during this period. Bitcoin price and stock performance The difference in performance between bitcoin mining stocks and bitcoin illustrates what analysts refer to as leveraged beta effect, a metric that’s sensitive to prices. The current state of high leveraged beta bitcoin mining stock s enjoys means that when bitcoin’s price goes up, mining stock s tend to do even better. On the flipside, when spot BTC prices fall, mining stock prices underperform. You might also like: New York Governor bans proof-of-work mining A notable development ahead of the bitcoin halving in 2024, records show, is that miners have be...