Analysis: BTC Falls Nearly 17% Monthly, Yet Mining Stocks Lead Gains Against the Trend; Short Covering and Power Cost Advantages Emerge as Key Drivers

Odaily News Although the price of Bitcoin fell nearly 17% this month, the stock prices of several Bitcoin mining companies have strengthened against the trend. For instance, TeraWulf's stock price has accumulated a 31% increase this month, Cipher Mining rose 8%, Hut 8 gained 6%, and Core Scientific remained largely flat. Analysis suggests that Bitcoin mining companies are currently among the targets with relatively high short interest from hedge funds. If fundamentals improve, this could trigger a short-covering rally. These companies have secured long-term and attractive power contracts, giving them a structural advantage in energy costs. Their strategic value extends beyond mere Bitcoin mining operations. Capital is flowing towards "structural winners," while traditional mining companies may face the risk of being marginalized. (CoinDesk)