The broker says it prefers outperform rated mining stocks Riot Platforms (RIOT) and CleanSpark (CLSK). Bitcoin (BTC) mining stocks have underperformed in recent weeks, but any weakness in the near term represents a potential buying opportunity, broker Bernstein said in a research report on Monday, The mining stocks are facing two headwinds following the approval of spot bitcoin exchange-traded funds (ETFs). First is “lower investor appetite to use them as a proxy,” and second is a weaker BTC price, resulting in further underperformance, the report said. The Valkyrie Bitcoin Miners ETF (WGMI), which invests in publicly traded bitcoin mining stocks, fell nearly 38% this year, while the bitcoin price and broader equity markets were more or less flat. https://
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