The recent upturn in the cryptocurrency market, led by the flagship decentralized finance (DeFi) asset Bitcoin (BTC), has given wings to Bitcoin mining companies’ stocks, as their price in terms of weekly performance is recording substantial gains.

Specifically, the surge in the BTC price has resulted in most Bitcoin mining companies posting stock price increases, according to the recent information shared by the cryptocurrency market data aggregation and analytics platform CryptoRank on March 20.

As the chart indicates, the Cipher Mining (NASDAQ: CIFR) stock has climbed 75.8% over the past week, followed by Marathon Digital (NASDAQ: MARA) with a 53.3% increase, Riot Blockchain (NASDAQ: RIOT) at 52.8%, Hut 8 Mining (TSE: HUT), which has gained 49.2%. 

Furthermore, other blockchain stocks involved in Bitcoin mining that have recorded significant weekly gains include Digithost Technology (CVE: DGHI) at 43%, HIVE Blockchain (CVE: HIVE) at 29.8%, Bit Digital (NASDAQ: BTBT) at 27%, Core Scientific (OTCMKTS: CORZQ) at 26.3%, Argo Blockchain (LON: ARB) at 24.4%, and Bitfarms (TSE: BITF) at 23.9%.

(By Ana Nicenko)