“As of December 2024, public mining companies held more than 92,000 BTC on their balance sheets, an all-time high. This observation was shared in TheMiningMag. Year-to-date, the figure increased by ~136% from a value just above 39,000 BTC. The momentum was partly driven by the transition of MARA, Riot Platforms and Hut 8 to the strategy of buying digital gold, following the example of MicroStrategy. The reserves of four mining companies have already exceeded the mark […]”, — write: businessua.com.ua
As of December 2024, public mining companies held more than 92,000 BTC on their balance sheets, an all-time high. This observation was shared in TheMiningMag.
Year-to-date, the figure increased by ~136% from a value just above 39,000 BTC.
The momentum was partly driven by the transition of MARA, Riot Platforms and Hut 8 to the strategy of buying digital gold, following the example of MicroStrategy.
The reserves of four mining companies have already exceeded the 10,000 BTC mark. In January, CleanSpark joined the above three.
Source: Bitcoin Treasures.
Ionic Digital, which owns 2461 BTC, plans to go public in the near future.
“Based on their current production rates and liquidation rates, it is likely that collective holdings [публічних майнерів] will exceed 100,000 BTC within months,” suggested TheMiningMag experts.
Dynamics of Bitcoin mining by public miners by month. Source: TheMiningMag.
Analysts at JPMorgan noted that the combined hashrate of 14 tracked companies listed in the US has more than doubled over the year, CoinDesk writes.
The share of public miners in the global indicator of network capacity has reached 30%.
In the first two weeks of January, the growth of Bitcoin’s hashrate outpaced the dynamics of the asset’s price. This led to a reduction in mining profitability by approximately 1%. On average, miners earned about $54,900 per 1EH/s per day.
At the same time, the aggregate capitalization of public companies in the industry increased by 16% or $4.5 billion during the period. The leader was Riot with an indicator of +32%, and the outsider was Bitdeer with a decline of 4%.
As a reminder, according to the results of 2024, Core Scientific (169%), Bitdeer (122%) and TeraWulf (112%) demonstrated the most significant growth in quotations among miners.
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