From my point of view, the reason for the poor performance of mining stocks at the moment is due to the halving, which will take place in April 2024. Mining companies will only receive half the reward for each coin mined. You can find an interesting article about this here https://www.finanzen.net/nachricht/devisen/bitcoin-halving-2024-bitcoin-halving-gefaehrdet-bitcoin-mining-sektor-so-viel-muesste-bitcoin-kosten-damit-miner-profitabel-bleiben-12766911