Why Own Bitcoin When You Can Own the Machines That Print It? | by Chip Mahoney | The Capital | Mar, 2025
Bitcoin mining stocks offer a unique way to gain exposure to Bitcoin’s upside — without worrying about wallets, exchanges, or self-custody. But which miner is the best bet?
Many investors want exposure to Bitcoin’s price movement but don’t want to hold BTC directly. Here’s why mining stocks can be a smarter play:
Higher upside — Bitcoin miners are leveraged plays on BTC price increases.
Stock market accessibility — Easily tradable in traditional brokerage accounts.
No self-custody risk — Avoid private keys, hacks, and exchange failures.
ETF-like exposure — Mining stocks tend to mirror BTC’s performance but often with more upside.
The Risk? Miners crash harder than Bitcoin in bear markets. You’re investing in companies that need cheap energy, efficient scaling, and a strong BTC price to remain profitable.
Miners earn Bitcoin by solving complex equations, but the real game is energy efficiency.
The best miners:
Secure cheap energy (Hydropower, nuclear, renewables).
