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Mining Companies’ Growth Far Exceeds Bitcoin
Review of the Last Halving: More Than Half of Mining Companies Outperformed Bitcoin
Mining Companies’ Growth Far Exceeds Bitcoin
The halving of block rewards often brings a bull market to the cryptocurrency market, but it also means that the BTC earnings for miners and mining companies in the future will decrease. Therefore, investing in mining companies seems somewhat contradictory.
However, despite this, listed mining companies have still benefited from the rise of Bitcoin this year and have achieved astonishing growth. Apart from Argo Blockchain, which has a growth rate of 162% on par with Bitcoin, the rest of the mining companies have far exceeded Bitcoin’s growth.
The companies with the highest growth rates are Marathon and Bitfarms, with 628% and 577% respectively. The year-to-date growth rates of various listed mining companies are as follows:
Argo Blockchain: 162%
Hut 8: 220%
HIVE: 220%
SATO Technologies: 258%
DMG Blockchain: 288%
Neptune Digital Assets: 288%
Riot Platforms: 397%
Bit Digital: 433%
CleanSpark: 473%
Cipher Mining: 533%
Bitfarms: 577%
Marathon Digital Holdings: 628%
Mining Companies’ Trends | Daily Chart
Review of the Last Halving: More Than Half of Mining Companies Outperformed Bitcoin
Looking back at the trends after the last halving in 2020, the growth rates of mining companies were all quite fierce, and Marathon Digital Holdings’ growth rate was particularly astonishing, seemingly unaffected by the potential impact of the halving on mining companies’ earnings.
2020 Halving Mining Companies’ Trends | Daily Chart
Argo Blockchain
Bitfarms
Marathon
Bitcoin
Mining Companies
Further Reading
Mining Data | Listed Mining Companies Sell Coins to Survive, Sales Exceed Mining Output, Stock Prices Plummet
Marathon, a Mining Company, Doubles Bitcoin Production in the Third Quarter, Announces Another $100 Million Loan for Purchasing Mining Machines