Crypto mining stocks surge to yearly highs after Bitcoin bounces back

Crypto mining stocks surge to yearly highs after Bitcoin bounces back


The Bitcoin (BTC) price rebound to a multi-month high has also positively affected mining stocks. Many crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also relieved the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity in 2022.

Bitfarms — one of the top BTC mining firms — registered a 140% surge in the first two weeks of January 2023, followed by Marathon Digital Holdings with a 120% surge. Hive Blockchain Technologies saw its stock value nearly double in the same period, while the MVIS Global Digital Assets Mining Index is up by 64% in the first month of the new year.

The Luxor Hashprice Index, which aims to quantify how much a

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