Coinspeaker
With Bitcoin Bounce Back, Crypto Mining Stocks Surge to Yearly Highs
The strong rebound in the Bitcoin (BTC) price earlier this week has had a very positive impact on the crypto mining stocks. Stocks of the crypto mining firms have recorded their best monthly performance in over a year.
This has relieved the troubled miners a bit who had to sell a significant portion of their mined Bitcoins to boost liquidity last year in 2022. Just within the first two weeks of 2023, the top BTC mining firm Bitfarms saw a 140% surge in its stock price. Similarly, the stock of Marathon Digital Holdings clocked a 120% surge. During the same period, Hive Blockchain Technologies saw its stock value jump by 100%.
With the Bitcoin price advancing by more than 28% since the beginning of 2023, the 20-member MVIS Global Digital Assets Mining Index has gained more than 64% so far. This has been the best month for the index since its inception at the end of 2021.
At the same time, the Luxor Hashprice
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