Bitcoin miners retreat sharply as BTC pulls back from recent highs

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.

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