Crypto mining stocks are recording their best monthly performance as Bitcoin price continues to break higher. The BTC price has rallied nearly 30% since the start of the year, causing a rebound in the broader crypto market.
After facing challenges including debt and high-energy prices for almost a year, crypto mining stocks are finally witnessing a respite from these worries. Here are the top 5 crypto mining stocks to buy in 2023.
1. Marathon Digital Holdings (MARA)
Las Vegas, Nevada-headquartered Marathon Digital Holdings produced 475 BTC in December and 1,562 BTC in Q4. Also, the crypto mining firm was able to produce 4,144 BTC in 2022 despite the crypto winter. The company finished the year with $103.7 million in cash on hand, increasing unrestricted bitcoin holdings from 4,200 BTC as of November 30 to 7,815 BTC.
MARA stock price soared over 100% in a month, with a 65% jump coming in just the last 5 days. At the time of writing, the price trades at $8.28 on Nasdaq, up over 4%.
2. HIVE Blockchain Technologies (HIVE)
Vancouver, Canada-headquartered HIVE Blockchain Technologies produced 4,752 BTC in 2022, an 8% increase from 2021. The crypto mining firm holds 2,348 BTC, with a market value of $38 million. HIVE strategically sold BTC to fund expansions in Q4.
HIVE stock price jumped 83.48% in a month, with a 51% rally coming in the last 5 days. At the time of writing, the price trades at $3.23 on Nasdaq, up over 3%.
3. Riot Platforms (RIOT)
Colorado-headquartered bitcoin mining firm Riot Platforms produced 659 BTC in December. Riot’s bitcoin holdings increased to approximately 6,952 BTC, all produced by the company’s self-mining operations. During the crypto winter, the company sold 600 BTC, generating net proceeds of approximately $10.2 million.
RIOT stock price jumped over 50% in a month, with a 23.35% rally coming in the last 5 days. At the time of writing, the price trades at $5.97 on Nasdaq.
4. Bitfarms (BITF)
Toronto, Canada-based crypto mining company Bitfarms mined 496 BTC in December. The firms produced almost 5,167 in 2022, up 50% over 2021.
BITF stock price has increased by over 138% in a month. In the last 5 days, the BITF price has rallied more than 60%. At the time of writing, the price trades at $1.10 on Nasdaq, up almost 3%.
5. Hut 8 Mining (HUT)
Toronto, Canada-headquartered Hut 8 Mining produced 161 BTC in December and 3,568 BTC total mined throughout 2022. The company has 9,086 BTC in reserves and 100% of bitcoins are deposited into custody.
HUT stock price has increased by nearly 100% in a month. In the last week, the HUT price recorded the most rally of 59.72%. At the time of writing, the price trades at $1.72 on Nasdaq, up almost 10%.
The post Top Crypto Mining Stocks To Buy In 2023 appeared first on CoinGape.
