Mining companies outperform Bitcoin with Marathon and Bitfarms surging over 500% this year.

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Mining Companies Outperform Bitcoin

The halving of block rewards often brings a bull market to the cryptocurrency market, but it also means that BTC earnings for miners and mining companies will decrease in the future. Therefore, investing in mining companies may seem contradictory.

However, despite this, publicly listed mining companies have still benefited from the rise of Bitcoin this year and have seen astonishing gains. Apart from Argo Blockchain, which has risen by 162% and is on par with Bitcoin, other mining companies have seen gains that far exceed Bitcoin.

The companies with the highest gains are Marathon and Bitfarms, with gains of 628% and 577% respectively. The year-to-date gains of each listed mining company are as follows:

• Argo Blockchain: 162%

• Hut 8: 220%

• HIVE: 220%

• SATO Technologies: 258%

• DMG Blockchain: 288%

• Neptune Digital Assets: 288%

• Riot Platforms: 397%

• Bit Digital: 433%

• CleanSpark: 473%

• Cipher Mining: 533%

• Bitfarms: 577%

• Marathon Digital Holdings: 628%

Review of the Last Halving: Majority of Mining Companies Outperform Bitcoin

Looking back at the performance after the Bitcoin halving in 2020, the gains of mining companies were quite fierce, and Marathon Digital Holdings' gains were particularly astonishing, seemingly unaffected by the potential impact of the halving on mining company earnings.