Mining Companies' Stock Return Outperforms Bitcoin's

The market cap of the world's three largest public cryptocurrency mining companies has grown an average of 46% over the past three weeks, rebounding from a mid-May low, The Block reports.

Since May 21, Riot Blockchain's market cap has grown from $1.92 billion to $3.4 billion, a growth of 77%. During the same period, Marathon Patent Group's market cap has grown by 39% (from $2.08 billion to $2.9 billion), while Canaan Creative’s has increased by 24% (from $1.37 billion to $1.7 billion).

Over the past year, the profitability of mining companies' shares has outperformed that of Bitcoin. During this period, the price of the benchmark crypto has risen by 334%, while the shares of these four mining companies have grown even more:

The increase in the market cap of mining companies takes place in the context of China's fight against the crypto industry. While mining pools offering their services to customers in China are suffering a decline in their hashrates, US companies are expanding their activities.