• bitcoinBitcoin (BTC) $ 117,886.00
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  • solanaSolana (SOL) $ 181.52
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  • staked-etherLido Staked Ether (STETH) $ 3,795.71
  • dogecoinDogecoin (DOGE) $ 0.225171
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  • cardanoCardano (ADA) $ 0.786010
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 117,796.00
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  • hyperliquidHyperliquid (HYPE) $ 43.11
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  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,075.62
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  • litecoinLitecoin (LTC) $ 109.10
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  • usdsUSDS (USDS) $ 0.999617
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 117,800.00
  • whitebitWhiteBIT Coin (WBT) $ 44.02
  • uniswapUniswap (UNI) $ 10.41
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  • moneroMonero (XMR) $ 315.25
  • bitget-tokenBitget Token (BGB) $ 4.53
  • pepePepe (PEPE) $ 0.000012
  • crypto-com-chainCronos (CRO) $ 0.143774
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.19
  • aaveAave (AAVE) $ 282.79
  • daiDai (DAI) $ 0.999880
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  • bittensorBittensor (TAO) $ 383.06
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  • ethereum-classicEthereum Classic (ETC) $ 21.80
  • aptosAptos (APT) $ 4.59
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  • okbOKB (OKB) $ 48.08
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  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.037997
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,806.88
  • algorandAlgorand (ALGO) $ 0.261185
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  • usd1-wlfiUSD1 (USD1) $ 0.999366
  • arbitrumArbitrum (ARB) $ 0.423175
  • vechainVeChain (VET) $ 0.025355
  • cosmosCosmos Hub (ATOM) $ 4.59
  • gatechain-tokenGate (GT) $ 17.62
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  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.221303
  • fasttokenFasttoken (FTN) $ 4.58
  • worldcoin-wldWorldcoin (WLD) $ 1.08
  • official-trumpOfficial Trump (TRUMP) $ 9.49
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.711967
  • spx6900SPX6900 (SPX) $ 1.98
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  • susdssUSDS (SUSDS) $ 1.06
  • binance-staked-solBinance Staked SOL (BNSOL) $ 191.96
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,305.09
  • filecoinFilecoin (FIL) $ 2.57
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  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,980.55
  • story-2Story (IP) $ 5.71
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 117,518.00
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.05
  • xdce-crowd-saleXDC Network (XDC) $ 0.100070
  • jupiter-exchange-solanaJupiter (JUP) $ 0.537829
  • usdtbUSDtb (USDTB) $ 0.999809
  • kucoin-sharesKuCoin (KCS) $ 11.34
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,021.28
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,062.02
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,104.73
  • injective-protocolInjective (INJ) $ 14.14
  • usdt0USDT0 (USDT0) $ 0.999120
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  • celestiaCelestia (TIA) $ 1.86
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.996768
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,995.66
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  • falcon-financeFalcon USD (USDF) $ 0.999618
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 118,127.00
  • flokiFLOKI (FLOKI) $ 0.000116
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  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 203.78
  • conflux-tokenConflux (CFX) $ 0.212282
  • wbnbWrapped BNB (WBNB) $ 809.32
  • immutable-xImmutable (IMX) $ 0.555351
  • the-graphThe Graph (GRT) $ 0.102003
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • sonic-3Sonic (S) $ 0.307780
  • pump-funPump.fun (PUMP) $ 0.002792
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.86
  • dogwifcoindogwifhat (WIF) $ 0.985400
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • ethereum-name-serviceEthereum Name Service (ENS) $ 28.65
  • pax-goldPAX Gold (PAXG) $ 3,331.72
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 117,618.00
  • msolMarinade Staked SOL (MSOL) $ 237.73
  • kaiaKaia (KAIA) $ 0.159609
  • clbtcclBTC (CLBTC) $ 120,697.00
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • lido-daoLido DAO (LDO) $ 1.04
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,761.71
  • vaultaVaulta (A) $ 0.543852
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  • tether-goldTether Gold (XAUT) $ 3,328.57
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  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,067.10
  • iotaIOTA (IOTA) $ 0.202654
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  • galaGALA (GALA) $ 0.016814
  • pyth-networkPyth Network (PYTH) $ 0.126371
  • pendlePendle (PENDLE) $ 4.40
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  • aerodrome-financeAerodrome Finance (AERO) $ 0.827507
  • ousgOUSG (OUSG) $ 111.98
  • bittorrentBitTorrent (BTT) $ 0.00000070
  • jito-governance-tokenJito (JTO) $ 1.91
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  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999591
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  • stader-ethxStader ETHx (ETHX) $ 4,039.08
  • heliumHelium (HNT) $ 3.20
  • walrus-2Walrus (WAL) $ 0.424632
  • usual-usdUsual USD (USD0) $ 0.997614
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  • ripple-usdRipple USD (RLUSD) $ 1.00
  • decentralandDecentraland (MANA) $ 0.302079
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  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 117,746.00
  • usddUSDD (USDD) $ 0.999678
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  • tripTrip (TRIP) $ 14.08

Bitcoin Miners Raised Over $5 Billion in 2024 With $3.6 Billion Spent on Machines and Infrastructure

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Bitcoin Miners Raised Over $5 Billion in 2024 With $3.6 Billion Spent on Machines and Infrastructure

Bitcoin mining companies channeled a significant portion of their fund raises into machine and infrastructure upgrades.

Miners Raise Big and Invest Big in Bitcoin Mining

16 publicly traded bitcoin mining companies have raised more than $5 billion in 2024, according to theminermag.com. The report also revealed that Q3 had the biggest property, plant, and equipment (PP&E) expenditure since Q1 2022 with over $3.6 billion spent on mining upgrades.

The bulk of the PP&E spending was on modifications to mining hardware, including the acquisition of new mining sites and technology.

This ongoing investment in hardware and infrastructure is in line with the surge in the Bitcoin network hashrate which measures the amount of computing power used for BTC mining worldwide. Despite the halving of bitcoin earlier this year, the hashrate recently reached an all-time high of about 790 exahashes per second (EH/s).

On the other hand, mining businesses’ stock fundraising slowed down with only $813 million raised in Q3, down from $1.6 billion in Q2. Nonetheless, debt finance returned, as Q3 2024’s debt issuance was the most since Q1 2022, with mining businesses raising $500 million.

Bitcoin Miners Raised Over $5 Billion in 2024 With $3.6 Billion Spent on Machines and Infrastructure

An example of mining companies’ shift from equity financing to debt financing is MARA Holdings’ recent $1 billion issuance of 0% convertible senior notes which was used to finance the purchase of 5,771 bitcoin. Also, a notable trend in 2024 is the growing emphasis on sustainable mining practices with miners seeking to balance profitability with environmental responsibility.

Source

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