This BTC Mining Stock Surges Nearly 400%!

<p>&nbsp;“Wow seriously, BTC mining stocks could kill the NASDAQ and Dow Jones?”</p><p><br /></p><p>It's true that the price of Bitcoin (BTC) has recently seen a sharp decline, but digital asset mining stocks such as Cipher Mining (CIFR) have mounted 389% this year.</p><p><br /></p><p>It's been announced that crypto stocks in 2023 have climbed quite a bit compared to the stock market, however it is worth noting that the S&amp;P 500 is still up 14% while the NASDAQ and Dow Jones gain 28% and 4% respectively.</p><p><br /></p><p>Even so, these three stocks have not jumped as high as the two BTC mining stocks, namely Riot Platforms inc (RIOT) and Marathon Digital Holdings Inc (MARA), which have traded far more than 200% since January 2023.</p><p><br /></p><p><br /></p><p>RIOT, which mined 1,775 BTC in the second quarter, reported a 228% profit while MARA also had 228% but still could not beat CIFR which increased more drastically than the two BTC mining stocks.</p><p><br /></p><p>So here it can be seen that long positions in BTC mining stocks are the same as owning BTC but with higher leverage, therefore institutional investors can be exposed to BTC mining stocks even if they don't buy them directly.</p><p><br /></p><p>Even though their large investment returns this year have caused stock traders to be attracted to BTC miners, there are some risks such as falling BTC prices that could impact mining stocks.</p><p><br /></p><p>It is common knowledge that the extraordinary returns of mining stocks will try to be the main indicator for the price of BTC to skyrocket if institutional investors start using the SHA-26 hash currency in earnest.</p>