Source Matrix

Third part of the report - on Bitcoin miners after Q2 2024 💻💰 The most important data from six companies involved in Bitcoin mining. 🏦🚀 Marathon Patent Group (MARA) reached a record hashrate of 35.2 EH/s, mining 2811 BTC at a cost of $45,626 per BTC. The company announced a new "Full Hold" strategy, meaning they do not plan to sell any BTC in the near future, currently holding 18,488 BTC in reserve. ⏳💸 Core Scientific (CORZQ), with 19.4 EH/s, mined 1680 BTC at a cost of $29,879 per coin. Due to financial obligations, the company sells all mined BTC within 10 days of acquiring them. ⚡💾 Clean Spark (CLSK), with 22.6 EH/s, mined over 2000 BTC without selling a single coin. Their mining cost is $32,000 per BTC, and they currently hold 7558 BTC. 📉⚒ Riot Blockchain (RIOT), with a hashrate of 22 EH/s, mined 844 BTC in Q2 at a cost of $41,795 per BTC. The company experienced a decrease in mining output due to the halving, but they still hold 9334 BTC. 💹💵 Bitfarms (BITF), operating at 11.3 EH/s, sold 515 BTC at an average price of $65,500 but still hold 1016 BTC in reserve. The mining cost ranged from $30,600 (direct) to $47,300 (total) per BTC. 🏗🛑 Hut 8 Mining (HUT), with the smallest hashrate of 4.7 EH/s, mined 279 BTC, selling all mined coins, though they still hold 9102 BTC. The cost of mining was $26,232 per BTC. Key takeaways: 💼 Most miners sell BTC only when they have to. 📊 The market value of these companies is largely based on their BTC holdings rather than their hardware or know-how. 📈🚀 Most miners are holding onto BTC, hoping for an increase in value, waiting for a bull market. 🖥📡 Some miners offer additional services, such as hosting, besides mining. In summary, most of these companies are holding onto their BTC, waiting for its value to rise, while simultaneously increasing their mining power. The market capitalization of these companies largely depends on their BTC holdings rather than just their equipment or infrastructure. #cryptocurrency #Learn2Earn