Shares of Bitcoin mining companies have been on an absolute tear in recent months as the digital asset trades near all-time highs. Generally, the stock performance of BTC mining companies is tied to Bitcoin prices. So, you should expect crypto mining companies to deliver outsized gains during bull runs, and trail the broader markets by a wide margin when broader cryptocurrency sentiment turns more bearish.
Valued at more than $1 trillion by market cap, Bitcoin (BTCUSD) is the largest cryptocurrency in the world. BTC prices have surged over 300% in the last 15 months, driving valuations of crypto mining companies higher as a result.
