Bitcoin mining stocks continue bleeding
Mining investors probably wish they had simply bought bitcoin instead at the beginning of 2022, as most bitcoin mining stocks have underperformed bitcoin by a wide margin.
May 9th 2022
Source: Tradingview (Nasdaq)
All the five largest mining stocks by market cap have more than halved since the start of the year. The biggest loser is Riot, which is down 65% YTD. Marathon follows behind with a 63% loss.
If we include the ten biggest public bitcoin mining companies, the best performer is CleanSpark, down 41%, telling us how horrible 2022 has started for the whole sector.