According to ecoinometrics, Bitcoin miners have outperformed Bitcoin in the previous bull market.

We haven't seen anything like this since the bottom of the bear market:

- #Bitcoin increased by +290%.

- Average miner stocks rose by +200%.

If we see a repeat of 2020/2021, we expect some miners' returns to exceed BTC's returns by 10 or 20 times over the same period.

$BTC