Bitcoin outperformed majority of mining firm shares in February

In February, Bitcoin (BTC) worth improve outperformed 20 out of 25 shares that belong to mining firms,  in accordance with Hashrate Index knowledge.

BTC closed at $23,723.77 on Feb. 1, in accordance with Yahoo Finance knowledge. On Feb. 20, BTC recorded its month-to-month excessive by closing at $24,829.15, which marks a 4.6% improve.

The chart beneath represents BTC mining firms’ inventory performances in February. Based on the numbers, solely Iris Power (IREN), Cipher Mining (CFR), Sphere 3D (ANY), Cathedra Bitcoin (CBIT), and Stronghold Digital Mining Inc. (SDIG) have been in a position to file will increase greater than BTC.

IREN grew to become essentially the most worthwhile inventory amongst all by recording a 29% improve, carefully adopted by CFR with 27%. ANY, CBIT, and SDIG additionally recorded will increase of 11%, 9%, and seven%, respectively.

12 months-to-date comparability

Although BTC was in a position to outperform most mining firms in February, year-to-date (YTD) numbers reveal that 20 out of 25 mining shares are nonetheless forward of BTC.

Based on the information, BTC recorded a 40% improve for the reason that starting of the yr, which locations it twenty first in rating. As compared, the highest three finest performers, Core Scientific (CORZ), Digihost Know-how (DGHI), and CBIT, recorded 267%, 242%, and 200% progress YTD.