According to @LexSokolin, Bitcoin miners have notably underperformed compared to BTC’s direct price gains, primarily due to increased operational costs, rising network difficulty, and post-halving revenue compression as discussed by @mikealfred and @Invst_Informant (source: Twitter, May 5, 2025). Trading mining equities can make sense when seeking exposure to potential upside from operational leverage or regulatory arbitrage, but direct BTC trading offers purer price correlation and liquidity. For crypto traders, closely monitoring miners’ financial health and macroeconomic factors is crucial, as mining equities may lag BTC in bullish cycles but exhibit amplified volatility during downturns, impacting portfolio risk and performance (source: Twitter, May 5, 2025).