Bitcoin Mining Stocks Post Huge Gains Over the Past 30 Days Despite Market Downturn

The recent revival in the value of crypto assets has reportedly permeated the “traditional” financial world and, more specifically, the stocks of crypto miners. In addition, rising cryptocurrency prices have boosted mining profitability, with some miners seeing a 120% increase in profitability. Some major crypto miners such as Marathon Digital Holdings, Riot Blockchain, Hut 8, and Core Scientific have gained 124.12%, 96.69%, 98.95%, and 110.39%, respectively, over the past 30 days. Crypto miner stocks appear to be in deeply oversold territory. The recovery over the past month can be attributed to a rebound from these levels, and a rally in crypto markets led mainly by Ethereum. Furthermore, the companies above appear to be expanding their Bitcoin mining operations.