According to the Cambridge Center for Alternative Finance, a financial research institute affiliated with Cambridge University, the Bitcoin hash rate increased by 4% in August compared to the previous year, from 35% to 39%. However, mining stocks have fallen in value in the last month, as have Bitcoin prices. BTC.com, Via BTC, and Pooling statistics are all included in the final figure.

https://twitter.com/media_diamante/status/1527225408436981760
<h2>Mining Stocks Are Down Over 50%</h2>
The recent crypto market massacre, which saw the collapse of TerraUSD and price drops in numerous cryptocurrencies, also prompted a reduction in the price of these mining businesses' shares. Core Scientific and Marathon mining equities have lost roughly 47% of their value since April 18. Riot's stock has been cut in half, and Hut 8 Mining Corp, situated in Canada, has seen its stock value plummet by 41%.

Following the 25% drop in Bitcoin price last month and the increasing correlation of cryptocurrencies with the stock market, some crypto traders believe investors should be wary about investing in cryptocurrency. The correlation between cryptocurrency and stocks has ranged from 0.67 to 0.78, with BTC plummeting 10% on the day of peak correlation. Here, 0 denotes no link, and 1 indicates perfect correlation.
<blockquote>Digital assets are now "part of the mainstream financial system, and that's not good for its survival as an alternative asset class," according to Richard Craib, CEO of the San Francisco-based hedge fund Numerai. Its original role as an uncorrelated asset is no longer being fulfilled.</blockquote>
According to analysts, several traditional investors have stopped trading in cryptocurrency. Many investors have left the market due to the decline in technology equities. To raise funds, they are selling their virtual assets.

U.S. Mining Stocks have dropped over 50% Despite Hashrate Increasing

Cambridge Center for Alternative Finance, a financial research institute affiliated with Cambridge University, the Bitcoin hash rate increased by 4% in August

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

U.S. Mining Stocks have dropped over 50% Despite Hashrate Increasing

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