Bitcoin Mining Stocks Surge as Crypto Markets Rebound

Cryptographic prizes are not the only winners this week. Equities in the mining sector are also slowing down in the market.

Share prices of some of the leading mining companies listed on the Bitcoin Stock Exchange soared this week.

The movement comes at the expense of a broader crypto market rally that has added nearly $100 billion to the total capitalization over the past week. Bitcoin is up more than 13% since the beginning of this year, adding to the demand for mining stocks.

Bitcoin mines business blockchain riot, digital marathon, hive, hut8, and bitfarms have been burning this week. Many have recorded double-digit earnings in recent days.

Bitcoin Mining Collection Renaissance.

MarketWatch reported that Riot Blockchain () won 43% this week. In addition, stocks closed at $6.13 after trading hours on Thursday following a 14.5% day increase.

Marathon Digital (MARA) prices made a whopping 30.9% on Thursday, ending the day at $6.76 after the bell. This mining company's stock prices are up 65% YTD, according to Marketwatch.

Today was an even better day for hive blockchain technologies. Beehive prices peaked at 37.6 per cent during the day and reached $3.21. This mining action generated a weekly gain of 76%.

Hut 8 Mining Corp (HUT) jumped 22.2% on Thursday to end up on the market at $1.38 after hours. The bitcoin extraction company also had a solid week, with stock prices up 51% since the opening of markets on Jan. 9.

Earlier this month, Hut8 announced it had mined 3,568 BTC throughout 2022. This increased its reserves from 65% to 9,086 BTC, and the company stated that it would continue with its long-standing strategy.

Bitfarms had an even better week, with stock prices increasing by 73% since Monday. BITF won 44.3% on Thursday to wrap up the trading session of the day at $0.94.

However, it is worth noting that the majority of these mining companies were defeated in 2022. Consequently, their equity prices are well below peak prices.

Other Crypto Stocks Up

Major Bitcoin investor MicroStrategy (MSTR) also had a solid week of stock trading. A 30% payout since Monday morning saw the MSTR Awards end the session on Thursday at $208.

Coinbase has also risen from the ashes after recent all-time lows, with a weekly gain of 40%. After the bell, the prices of the coins added 8.6% yesterday to exchange for $46.70.