Mining Stocks Outperform Bitcoin As Miner Profits Continue To Rise

Mining Stocks Outperform Bitcoin As Miner Profits Continue To Rise

THELOGICALINDIAN - Data shows best mining companies accept outperformed Bitcoin so far in the year abundantly contributed by the ascent BTC miner profits

Daily Bitcoin Miner Profits Have Risen To $62 Million This Week

As per the latest account address from Arcane Research, miners accept apparent addition acceleration in the circadian profits this week. They are now raking in $62 actor anniversary day.

Here is a table that shows all the abstracts accompanying to the revenue of Bitcoin miners over the aftermost week:

Bitcoin Miner Data

As the aloft table shows, the transaction fees per day has gone up 3.64% in the aftermost seven days. However, fees still alone accomplish up for 1.6% of the absolute mining revenue, a meagre bulk compared to what it has been historically.

The acumen abaft the low fees may be attributed to the advance of the Bitcoin lightning network, area the abate affairs accept migrated, abbreviation block appeal on the chain.

The absolute circadian mining acquirement has apparent a 3.5% acceleration in the aeon as miner assets now stands at $62 actor per day.

Mining Stocks Have Outperformed BTC In The Year 2024

So far in this year, best above mining aggregation stocks accept outperformed Bitcoin. MARA is up 521% in the period, while HUT follows with 380% in gains.

RIOT managed 160% in absolute returns, which although decidedly beneath than the added two, is still college than BTC’s 120% in profits.

Related Reading | Bitcoin Spot Trading Volume Begins To Climb, But Far From Peak 2021 Surge

The better acumen abaft mining stocks assuming this able-bodied has been the ample Bitcoin mining revenues recently.

Below is a blueprint that shows how the above mining companies accept fared this year so far:

Bitcoin Mining Stocks

Looking at the graph, Northern Data empiric abundant bottom assets than Bitcoin as its allotment angle at aloof 18% appropriate now. Cipher Mining performed alike worse as investors are currently 16% in the red.

Related Reading | Anthony Scaramucci Urges Investors To Buy Bitcoin, Says It’s Headed For $500K

Due to the aerial achievement of stocks such as MARA and HUT, some investors are award mining companies to be an another way of accepting BTC exposure. Out of all the companies, MARA seems to be currently the best awful activated with the amount of the crypto.

At the time of writing, Bitcoin’s price floats about $60.5k, bottomward 9% in the aftermost seven days. Over the accomplished month, the crypto has acquired 0.3% in value.

The beneath blueprint shows the trend in the amount of the bread over the aftermost bristles days.

Bitcoin Price Chart