Bitcoin price shrugs off bears, but mining stocks take a beating: Report

The report is readily available for Pro customers on the Cointelegraph Research Terminal.Major mining business down 30%Most openly traded crypto companies faced a challenging month in September and their stocks underperformed. Some of the reasons for this correction are specific to the mining sector and are unlikely to affect crypto more widely.Bitmain releases brand-new Antminer iterationThe big corrections in the stocks of the mining stocks can, amongst other things, be associated to a tightening up of mining economics. Once mining business exhaust their capability to raise new capital, they might be economically squeezed after the cutting in half unless Bitcoin puts in a significant rally.In September, Bitmain, the largest producer of ASIC mining hardware, revealed a brand-new model of Antminer rigs that will heighten this competitors further in the coming months.

Thank you for reading this post, don't forget to subscribe!

The report is available for Pro subscribers on the Cointelegraph Research Terminal.Major mining companies down 30%Most openly traded crypto companies dealt with a tough month in September and their stocks underperformed. Some of the reasons for this correction are particular to the mining sector and are unlikely to impact crypto more widely.Bitmain releases new Antminer iterationThe big corrections in the stocks of the mining stocks can, among other things, be attributed to a tightening of mining economics. When mining business tire their capability to raise new capital, they might be economically squeezed after the halving unless Bitcoin puts in a considerable rally.In September, Bitmain, the biggest producer of ASIC mining hardware, announced a new design of Antminer rigs that will intensify this competition even more in the coming months. The new S21 rigs will have a mining effectiveness of 17.5 J/TH– a more than 20% boost compared to the previous front-runner.