Despite Bitcoin’s surge, mining stocks struggle to match gains in 2024
Many mining stocks are on track to close the year in the red, even with Bitcoin’s gains in 2024.
Bitcoin (BTC) is posting a 113% return in 2024 as of Dec. 24, yet most miners’ stocks have struggled to capitalize on the cryptocurrency’s gains, closing the year in the red.
According to data from the Hashrate Index and Google Finance, the majority of publicly listed miners are ending 2024 on the negative side of the charts, with declines as high as 84%.
Among the 25 listed miners in the Index, only seven companies are delivering gains for investors year-to-date. At the time of this writing, Bitdeer (BTDR) is soaring 167%, Cipher (CIFR) is gaining 33%, Hut 8 (HUT) is jumping 91%, Iris Energy (IREN) is rising 72%, Northern Data (NB2) is up 58%, Core Scientific (CORZQ) is climbing 327%, and TeraWulf (WULF) is at 169%.
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Author: Ana Paula Pereira
