"Wow that's the best, who here has bought one of these BTC mining shares raise your hand."
The share price of Apple, which announced its Vision Pro headset in June 2023, has seen a 55% climb over the past year while Amazon shares have generated 79% as the AWS division pushes artificial intelligence (AI)-focused products.
Even so, both stocks failed to make it into the top ten by 2023 annual returns but the cryptocurrency mining stocks Bitcoin (BTC) which could belong to the technology industry stocks did well.
This is because mainstream investors' interest in digital assets is increasing, so the list below includes four BTC mining stocks that are outperforming almost the entire market.
Cipher Mining (CIFR) is third for the year after gaining 1,042% in 12 months
Fourth ranked Marathon Digital (MARA) has a return on investment (ROI) of approximately 783%
CleanSpark (CLSK) rose 500% in seventh place on Wall Street
Riot Blockchain (RIOT) in position ten where it has a one-year profit of over 430%
Pleased to note that the firms outpacing BTC price gains of nearly 157% in 2023 have shown that there is strong demand by more traditional investors to get crypto exposure into their portfolios.
Other factors supporting the rise in BTC mining stock prices in 2023 are transaction fees that have skyrocketed following price increases and the constant demand for Ordinal Inscriptions burdening the network.
Not only that, the development achievements and increased hash rates also attracted investors to buy the four mining stocks following CIFR surpassing 7.2 exahashes per second (EH/s) in hash power after opening a new facility in Odessa, Texas.
Higher profits from BTC block rewards and mining fees and more capital inflows from Wall Street may allow many firms to continue investing in next-generation ASIC mining machines to stay competitive in the BTC hash race.
