Bitcoin rally powers mining stocks higher

When digital asset valuations surge, crypto mining stocks naturally benefit, much like other commodity producers.

Data shows that major firms including Marathon Digital (MARA), Bitfarms (BITF) and Riot Platforms (RIOT) are posting double-digit gains over the past five days, between 17% and 19%.

Speculation for crypto mining stocks has been fueled by the crypto market rally at the beginning of the week, which saw the price of bitcoin (BTC) cement a new yearly high above $35,000.

Miners faced significant challenges last year attributable to rising electricity costs, the Ukraine-Russia conflict and falling crypto prices — sending respective share prices tumbling.

In the face of those…

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