Bitcoin mining stocks have recorded the best month in the middle of the BTC price increase in a year
Bitcoin mining stocks have recorded the best month in the middle of the BTC price increase in a year
Crypto mining shares increase because the Bitcoin price after a continued Baisse bounces down to a new multi-month high of over $ 21,000.
According to a report by Bloomberg on Tuesday, several Bitcoin mining shares have recorded their best monthly performance for at least one year.
Bitcoin mining stock recreation
according to the Test report The MVIS Global Digital Assets Mining The Index has increased by 64 % since the beginning of this month, a strong contrast to the decline last year by 88 %. Bloomberg also pointed out that this was the best month of the index since it was introduced at the end of 2021
Bitfarms, one of the largest Bitcoin mining companies in the industry, recorded an increase of more than 140 %in the first two weeks of January. Densified by Marathon Digital Holdings Inc., which has risen by over 120 %. Hive Blockchain Technologies Ltd. could more than double the value of his shares in the same period.
The report also found that the Luxor Hashprice Index has increased by 21 % this year, which partially reflects the larger rewards from an increase in the Bitcoin price. The index tries to estimate how much a miner can probably earn with the computing power used for the Bitcoin network.
The upward movement of the Bitcoin shares takes place in the middle of a wider market rally, which has increased the overall capitalization of the cryptoma market in the past two weeks by more than $ 100 billion. Bitcoin has increased by more than 28% of since the beginning of this year, which heats up the demand for mine stocks.
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increasing prices relieve miners of persistent Baisse
Rising share prices have relieved the shares in the long crypto winter 2022, and energy worries have hit the stocks last year.
The Bull Run 2021 prompted several crypto mining companies to invest heavily in equipment and expansion plans. These companies had borrowed huge sums to finance their expansion plans, which impaired their finances during Baisse 2022.
The crypto winter forced several top mining companies to hire the company. In December, Core Scientific Inc .
other miners in money shortage, such as Riot Platforms Inc. and Bitfarms Ltd., began to sell a significant part of their reserves last year to increase liquidity.
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