After a historically-bad year for bitcoin mining, public companies that fell into penny stock status surged back in January following a strong bitcoin rally.
2022 was arguably the worst year on record for bitcoin mining. Every market suffered from the consequences of unprecedented recklessness by central banks around the world. But because bitcoin is nothing if not volatile — and because mining acts as a leveraged bet on bitcoin itself — the mining sector of the bitcoin economy finished last year battered and bruised. In fact, many public mining companies were relegated to trading as literal penny stocks.
