Quick Take
Among Bitcoin miners, the most remarkable performance this year has come from Core Scientific, whose value has impressively soared by over 1000%. Notably, this substantial upswing came on the heels of the company filing for bankruptcy and laying out reorganization plans just two weeks prior.
It is, however, important to highlight that despite Core Scientific’s surge, all the miners, including Core Scientific, have experienced a decline from their respective peak values recorded over the last 52 weeks.
Examining the broader market trends, Bitcoin itself has appreciated by 83% in value so far this year, though it still remains about 50% lower than its all-time high. These trends serve to underscore the fact that Bitcoin miners typically exhibit higher beta values, indicating a heightened level of volatility and risk in comparison to Bitcoin itself.
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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