First, go back to July. Riot traded up around $20. BTC was around $30,000 then. It corrected back down and Riot followed. $9 by October. BTC starts its current run but Riot was not moving at all for a while. Mara either. These have both been lagging compared to before July and especially to a couple of years ago. They now seem to move at the same percentage change as Bitcoin. No leverage like before. Maybe that will change as it is clear about the cost of mining per BTC coin these days and then some leverage will be adding to the share price.
Cointelegraph put out an article 4 weeks ago that has not helped. It said Riot and Mara are/were the most overvalued miners. That must have had an impact. Dilution wotj more options did not help either.
Go back three years and see what this did when BTC hit $67K. Maybe if it gets that high again or more, we will see this double or triple. If you are playing the daily swings then none of this matters. GL
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