Mining companies collectively lag behind: Bitcoin rose 22% in this round, while the median gain among 10 mining stocks was only 1.8%

Tapbit news, September 10 — Since August 17, Bitcoin's price has risen approximately 22%, with crypto trading platforms and stablecoin-related stocks strengthening in tandem, yet Bitcoin mining companies have notably lagged behind.

An analysis of 11 Bitcoin mining firms and related companies in the market shows that only Canaan Inc. outperformed BTC, while the remaining 10 companies all underperformed Bitcoin, with a median gain of just 1.8% during the period.

Among them, Core Scientific and Terawulf posted the weakest performance, trailing Bitcoin by 27% and 24%, respectively.

The analysis notes that some mining firms have pivoted toward high-performance computing (HPC) and AI data center businesses in recent years. While this transition has helped support stock prices during crypto bear markets, it has also diverted focus from Bitcoin mining operations and introduced additional operational risks.

However, the dual focus on AI data centers and Bitcoin mining could also become a long-term advantage for miners: mining operations benefit in bull markets, while AI data centers can improve corporate balance sheets during crypto market downturns.

[Source]