CleanSpark (CLSK), a Bitcoin mining stock, has increased by 18% year-to-date, which is less than Bitcoin’s 121% increase over the same period. Analyst Caleb Franzen of Cubic Analytics points out this difference and questions whether investing in mining stocks is an effective way to gain higher exposure to Bitcoin’s performance.
CLSK has underperformed Bitcoin and its peers, and compared to the Bitcoin mining ETF (WGMI), CLSK is down over 15% this year. Other mining stocks like TeraWulf (WULF), Hut 8 Mining (HUT), and Core Scientific (CORZ) have performed better. Franzen emphasizes the importance of aligning with market trends and suggests a rotation out of underperforming miners in favor of better-performing assets.
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<p>The post Bitcoin Mining Stocks Fall Short of Bitcoin’s Surge: Analyst’s Insight first appeared on CoinBuzzFeed.</p>
