Bitcoin mining stocks rebound sharply despite a 70% drop in BTC miners' revenue

Cointelegraph

Published Jul 06, 2022 10:17AM ET

Updated Jul 06, 2022 05:40PM ET

Bitcoin (BTC) mining companies have suffered in 2022 due to the crypto bear market. Nonetheless, their stocks collectively saw a sharp rebound on July 6, raising hopes that investors have started to buy the dips.

One of the intraday winners was Bitfarms (TSE: BITF), which surged by over 24% to close at $1.29.

MARA, CORZ, BITF, and CBIT daily price chart. Source: TradingView
Bitcoin daily miner revenue versus difficulty. Source: CoinMetrics/Arcane Research
Mining stocks vs. BTC/USD (blue) daily price chart. Source: TradingView
MARA/USD daily price chart. Source: TradingView

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