Crypto mining stocks surge to yearly highs after Bitcoin bounces back
The surge in crypto mining stocks came as a relief for the industry after a crippling last year, where in public crypto miners incurred $4 billion in liabilities. The Bitcoin (BTC) price rebound to a multi-month high has rubbed onto the mining stocks as well. Many of these crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also came as a relief for the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity last year. Bitfarms, one of the top BTC Mining firms registered a 140% surge in the first two weeks of January followed by Marathon Digital Holdings Inc. with a 120% surge . Hive Blockchain Technologies Ltd. saw its stock value nearly double in the same period while MVIS Global Digital Assets Mining Index is up by 64% in the first month as well. The Luxor Hashprice Index, which aims to quantify how much a miner might make from the processing power used by the Bitcoin network, has increased by 21%...