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% this year. This partly reflects larger rewards due to an increase in the price of Bitcoin.

(By PRASHANT JHA)