Bitcoin has surged 113% in 2024, yet most mining stocks haven't mirrored this success. Despite the crypto's gains, many miners are ending the year in the red, with some stocks dropping as much as 84%. Only a few, like Core Scientific and Bitdeer, have seen significant gains.

2024 posed challenges for miners, with reduced rewards and rising costs. The April Bitcoin halving cut rewards to 3.125 BTC, squeezing profits. Miners' revenues have dipped, and operational costs have soared, with some companies reporting a 168% rise in expenses.

To adapt, firms raised over $2.2 billion through stock offerings and diversified into sectors like AI, seeking new revenue streams.