Bitcoin outperformed majority of mining company stocks in February

In February, Bitcoin (BTC) terms summation outperformed 20 retired of 25 stocks that beryllium to mining companies,  according to Hashrate Index data.

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

The illustration beneath represents BTC mining companies’ banal performances successful February. According to the numbers, lone Iris Energy (IREN), Cipher Mining (CFR), Sphere 3D (ANY), Cathedra Bitcoin (CBIT), and Stronghold Digital Mining Inc. (SDIG) were capable to grounds increases higher than BTC.

Bitcoin mining stocks show successful February (Source: Hashrate Index)

IREN became the astir profitable banal among each by signaling a 29% increase, intimately followed by CFR with 27%. ANY, CBIT, and SDIG besides recorded increases of 11%, 9%, and 7%, respectively.

Year-to-date comparison

Even though BTC was capable to outperform astir mining companies successful February, year-to-date (YTD) numbers uncover that 20 retired of 25 mining stocks are inactive up of BTC.

Bitcoin mining stocks show YTD (Source: Hashrate Index)

According to the data, BTC recorded a 40% summation since the opening of the year, which places it 21st successful ranking. In comparison, the apical 3 champion performers, Core Scientific (CORZ), Digihost Technology (DGHI), and CBIT, recorded 267%, 242%, and 200% maturation YTD.

The station Bitcoin outperformed bulk of mining institution stocks successful February appeared archetypal connected CryptoSlate.