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Bitcoin mining companies outperformed Bitcoin by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date stock price gains in 2023 among the top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than Bitcoin’s (BTC) gain in the same period. The higher gains represent the leveraged beta effect that mining stocks enjoy. Leveraged beta suggests that during Bitcoin upside, these stocks outperform, whereas when Bitcoin slumps, they face deeper downside risk. Due to its high leveraged beta, Bitcoin’s price performance will remain a crucial... Source: https://cointelegraph.com/news/bitcoin-mining-stocks-outperform-btc-in-2023-but-on-chain-data-points-to-a-potential-stall
