Bitcoin Miners Underperform Compared to Bitcoin Prices
Bitcoin rose 21.5% from August 17 to 21, but six out of seven major mining companies listed in the U.S. performed poorly. MARA increased by 16.1%, while Cipher fell by 14.8%, TeraWulf dropped by 11.2%, and Hut 8 decreased by 8.1%. During this period, QQQ fell by 2.3%, placing these companies in a weak tech stock market. Some companies' reported revenues and contracts reflect this change. TeraWulf generated $31.9 million in revenue through high-performance computing leasing in the second quarter, with total revenue of $44.8 million. Hut 8's Beacon Point leasing covers 949 megawatts of contracted IT capacity. Riot Platforms reported total quarterly revenue of $174.2 million, with $113.7 million from mining, $23.2 million from data centers, and $37.3 million from engineering services. IREN's AI cloud revenue was $70.5 million, while Bitcoin mining revenue was $66.7 million. Analysis shows that most companies' sensitivity to Bitcoin has weakened, with current correlations to QQQ exceeding those with Bitcoin. MARA maintains the highest correlation with Bitcoin, reflecting its dependence on mining activities. These companies are no longer merely amplifying the Bitcoin price; the rise in computing contracts, capacity delivery, and data center revenues is beginning to influence stock pricing.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

BlackRock's Bitcoin ETF Outperforms S&P 500 by 1.6 Percentage Points

Grayscale: U.S. Household Stock Assets Rise to 46.71%

FBI Seizes 560000 USD in Crypto for Hamas, Takes Control of Fundraising Sites

Sam Price: The Impact of the Dollar on the Crypto Market

Fairshake enters US elections with $122M war chest

Kraken IPO delayed until Q2 2027: report

CLARITY Act could advance within weeks, Atkins says

Ricardo Salinas Advocates Bitcoin Over Fiat Currency

Bitcoin Adoption Index: El Salvador, Venezuela, Nigeria Lead in Ownership

Increase in Liquidity Fragmentation Due to Differences in Permissionless Blockchain Consensus Structures

Quantum Computers Pose Existential Threat to Bitcoin

大冰要抄底(专注交易)'s Analysis of Key Bitcoin Price Levels

Nunchuk Launches New Version of Bitcoin Wallet with Security Alerts

CryptoQuant: Increased Lending Demand in Bear Market, High-Net-Worth Individuals Shifting Collateral to ZEC

Bitmine Accumulates 5,901,112 ETH, Close to 5% of Total Supply

Cango Reports Q2 Net Loss of $81.6 Million, Shifts Mining Capacity to AI Computing

Fidelity Digital reports Bitcoin can achieve quantum resistance

Bitcoin Falls Below $77,000 as Rate Hike Expectations Remain Unchanged

El Salvador's Bitcoin Reserves Increase to 7,762, Valued at Approximately $598 Million

BitcoinHabebe Announces WEEX Platform Promotion: Deposit $100 to Get $1000 in Bitcoin

What is Bitcoin halving and why does it move the price

Sam Price Predicts Key Decision Points for Bitcoin

AI: Anthropic and Nvidia Enter the Realm of a Bitcoin Mining Giant

Crypto SEC News: 24/7 Trading on Wall Street with or without Blockchain?

DDC Enterprise H1 Financial Report: Revenue of $20.2 Million, Up 29% Year-on-Year, BTC Holdings Increase to 2,899 Coins

Nakamoto Stock Price Plummets 99%, David Bailey Seeks Self-Rescue

Strategy CEO defends Bitcoin sale before asset rise

Crypto Farm with 110 Devices Found in Non-Residential Building

After Bitcoin Asia, Beyond the Trending Topics, Three Real Signals












