Bitcoin outperformed majority of mining company stocks in February

Share This Post

In February, Bitcoin (BTC) price increase outperformed 20 out of 25 stocks that belong to mining companies,  according to Hashrate Index data.

BTC closed at $23,723.77 on Feb. 1, according to Yahoo Finance data. On Feb. 20, BTC recorded its monthly high by closing at $24,829.15, which marks a 4.6% increase.

The chart below represents BTC mining companies’ stock performances in February. According to the numbers, only Iris Energy (IREN), Cipher Mining (CFR), Sphere 3D (ANY), Cathedra Bitcoin (CBIT), and Stronghold Digital Mining Inc. (SDIG) were able to record increases higher than BTC.

Bitcoin mining stocks performance in February (Source: Hashrate Index)
Bitcoin mining stocks performance in February (Source: Hashrate Index)

IREN became the most profitable stock among all by recording a 29% increase, closely followed by CFR with 27%. ANY, CBIT, and SDIG also recorded increases of 11%, 9%, and 7%, respectively.

Year-to-date comparison

Even though BTC was able to outperform most mining companies in February, year-to-date (YTD) numbers reveal that 20 out of 25 mining stocks are still ahead of BTC.

Bitcoin mining stocks performance YTD (Source: Hashrate Index)
Bitcoin mining stocks performance YTD (Source: Hashrate Index)

According to the data, BTC recorded a 40% increase since the beginning of the year, which places it 21st in ranking. In comparison, the top three best performers, Core Scientific (CORZ), Digihost Technology (DGHI), and CBIT, recorded 267%, 242%, and 200% growth YTD.

The post Bitcoin outperformed majority of mining company stocks in February appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Meme Coin Showdown: Token Mill vs. Pump.fun in the Battle for Meme Coin Supremacy

While Pumpfun shattered records and set the standard for meme coin creation, it has glaring flaws Token Mill aims to fix these problems, and add additional functionality This piece is a guest post by

Chainlink Rockets 20%: Whale Activity Sparks Break From Bear Trend

Chainlink (LINK) is experiencing significant growth in the cryptocurrency sector, with a 20% increase in value in just one week and a potential change in its long-term trajectory Related Reading: XRP

Cardano Whales Holding $10M ADA Grow Positions by 420%, Time to Buy?

The post Cardano Whales Holding $10M ADA Grow Positions by 420%, Time to Buy appeared first on Coinpedia Fintech News Cardano (ADA) has made a wild move in the past few days and has gained notable

1inch Launches Fusion+, A Cross-Chain Swapping Solution for Decentralized Transactions

1inch, a decentralized finance (defi) platform, has officially rolled out Fusion+, a cross-chain swapping tool designed to enhance the security and simplicity of decentralized transactions Fusion+ by

XRP Price To $28: Wave Analysis Reveals When It Will Reach Double-Digits

Crypto analyst Behdark has predicted that the XRP price can reach $28 This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price

Ethereum Shorts Hit Record High as Market Leverage Soars

Leveraged short positions in ethereum (ETH) have climbed to unprecedented highs, signaling a bearish tilt in market sentiment as traders brace for intensified volatility Ethereum Bears Bet Big as