Mining Stocks Outpace Bitcoin in 2022, But Face Uncertainty Ahead of Halving

Mining stocks have significantly outperformed Bitcoin in 2022, with average returns of 148% vs Bitcoin's 85%. Marathon and Cipher lead gains.

Mining stocks tend to be more volatile than Bitcoin, moving more dramatically in both up and down markets.

Ordinals and new use cases are boosting mining revenue and demand. Hashrate and difficulty at all-time highs.

Public miners selling a lot of newly mined Bitcoin to fund operations and growth ahead of the halving.

Mining stocks may benefit from halving hype at first but face revenue cut when rewards are reduced. Less efficient miners at risk.