Collapse in mining stocks since bitcoin's all-time high

Since bitcoin’s all-time high in November, the cash flow of mining has plummeted, leading to a collapse in the shares of bitcoin mining companies.
Source: Tradingview

Since November 9th, shares of the two largest publicly listed miners, Marathon and Riot, are down 66% and 55%. The bitcoin price is down by 36% in the same period – showcasing the higher volatility of mining stocks compared to bitcoin.

Lower operating margins have reduced miners' profits, leading to a steep reduction in their share prices. The falling bitcoin price coupled with increasing hashrate is responsible for bitcoin mining’s profitability slump.

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