Core Scientific leads Bitcoin mining stocks with an impressive 248% YTD gain.
Bitcoin mining stocks show mixed performance in 2024, some thrive, others struggle.
Bitcoin rebounded in September, trading above its 200-day SMA and near cycle high.
Bitcoin mining stocks have seen mixed results in 2024, but Core Scientific (CORZ) chose to be an exception; with the company registering a 248% YTD gain.
They also secured a $3.5 billion, 12-year contract with CoreWeave, further boosting its position. This long-term deal appears to have contributed to Core Scientific’s substantial stock gains, positioning the firm as a key player in the industry.
TeraWulf (WULF) was another standout performer, posting a solid 96% return. Meanwhile, Iris Energy (IREN) achieved a 10% increase in its stock price, staying positive despite broader sector volatility.
While these companies recorded positive outings, many other public mining companies reported big losses. GRDI.NE experienced the most significant decline, with its stock value plummeting by 85%.
Read also: Core Scientific Inks 3 New Hosting Contracts Amid Bankruptcy
Other major underperformers include Argo Blockch…
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