Bitcoin Versus Bitcoin Miners: Which Was The Smarter Investment In 2024?

The year 2024 has brought significant gains for cryptocurrency traders and investors, with apex crypto Bitcoin (BTC) being among one of the top performers.

BTC had a stellar run this year—volatility aside, Bitcoin investors who HODL-ed the cryptocurrency throughout the year would have had their investment more than double.

BTC began the year at $44,204 and has managed to add over $50,638 to its value at the time of writing, taking the current value of the cryptocurrency to $94,843, amassing gains of over 114%.

This is also the year when BTC crossed the $100,000 milestone, reaching an all-time high of $108,268.

However, stocks of Bitcoin mining companies have not had as good a year as the cryptocurrency they are busy scooping up.

Some of the top listed Bitcoin miners have seen their stocks plummet over the last month even as Bitcoin declined just 1.9%.

Here’s how Bitcoin mining stocks have performed over the last month and year-to-date:

The best performer on this list is Hut 8 Corp. (HUT), which has gained over 65% – but it has still not been able to beat BTC. Over the past month, however, it has declined by nearly 19.8%.

The retail sentiment on Stocktwits was ‘neutral’ at the time of writing.

HUT sentiment and message volume December 31, 2024, as of 12 pm ET | Source: Stocktwits

Cipher Mining Inc. (CIFR) is the second-best performer on the list, with gains of 11.6% year-to-date. Over the past month, however, it has lost over 26.8% of its value.

The retail sentiment on Stocktwits was ‘extremely bullish’ at the time of writing.

CIFR sentiment and message volume December 31, 2024, as of 12 pm ET | Source: Stocktwits

CleanSpark Inc. (CLSK) has seen its shares plunge by 14.9% year-to-date, but over the last month, its stock is down by more than 36.2%.

The retail sentiment on Stocktwits was ‘bearish’ at the time of writing.

CLSK sentiment and message volume December 31, 2024, as of 12 pm ET | Source: Stocktwits

Mara Digital Holdings Inc. (MARA) has seen its stock lose 25.8% of its value year-to-date, and over the past month, it has declined by over 33.6%.

The retail sentiment on Stocktwits was ‘bearish’ at the time of writing.

MARA sentiment and message volume December 31, 2024, as of 12 pm ET | Source: Stocktwits

The worst performer on this list is Riot Platforms Inc. (RIOT) – its stock has lost a third of its value year-to-date. However, it has been relatively resilient in terms of percentage decline over the last month, falling by a little over 15%.

The retail sentiment on Stocktwits was ‘bearish’ at the time of writing.

RIOT sentiment and message volume December 31, 2024, as of 12 pm ET | Source: Stocktwits

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