Analysis: Multiple Bitcoin mining company stocks defy the trend and strengthen, with short covering and electricity advantages being key drivers

Mars Finance reports that although Bitcoin prices have fallen nearly 17% this month, the stock prices of several Bitcoin mining companies have defied the trend and strengthened. For example, TeraWulf’s stock has increased by 31% this month, Cipher Mining by 8%, Hut 8 by 6%, and Core Scientific has remained flat. Analysts believe that Bitcoin mining companies are currently among the targets with a high short-selling ratio by hedge funds. If fundamentals improve, a short covering rally could be triggered. These companies have secured long-term and attractive power contracts, giving them structural advantages in energy costs. Their strategic value extends beyond simple Bitcoin mining operations. Capital is flowing toward “structural winners,” while traditional mining companies may face the risk of being marginalized.