Major mining stocks dropped 20%–50% this week, erasing billions in value as the sector continued to lag Bitcoin’s latest pullback.
Publicly traded Bitcoin mining companies had a tough week, with nearly every major miner posting double-digit declines as the sector sharply underperformed Bitcoin itself.
Over the past five trading days, names like Cipher, Applied Digital, Core Scientific, CleanSpark and Bitdeer slid between 23% and 52%, while other operators such as Riot and Hut 8 saw mid-teens losses.
Bitcoin (BTC) was trading about $94,400 at the time of writing, down about 9% over the past seven days.
