5 months ago
Publicly traded U.S. crypto mining companies doubled their bitcoin (BTC) holdings past year, taking the full to 92,473 valued astatine $8.6 cardinal arsenic of end-December portion the terms of the largest cryptocurrency roseate 120%, according to information from TheMiningMag.
The biggest amount, astir fractional of the total, is held by MARA Holdings (MARA) with 44,893 BTC. MARA has the second-largest stash among publically listed companies, surpassed lone by MicroStrategy's (MSTR) 450,000 BTC.
The strategy of investing successful bitcoin and keeping it for the agelong term, known arsenic HODL aft a typing mistake made much than a decennary ago, has grown successful popularity successful the past 12 months.
Three different miners clasp much than 10,000 BTC: Riot Platforms (RIOT) with 17,722 BTC, Hut 8 (HUT) with 10,171 BTC and CleanSpark (CLSK) with 10,097 BTC, according to Bitcoin Treasuries.
Not each miners subscribe to the HODL playbook. IREN (IREN), TeraWulf (WULF), and Core Scientific (CORZ) each support precise small bitcoin oregon nary astatine all. Due to the competitory quality of the business, these companies person pivoted into the artificial quality (AI) and high-performance computing (HPC) industries.
Share prices haven't matched bitcoin's trajectory. In general, the miners underperformed bitcoin and different crypto-related equities, specified arsenic MicroStrategy. Standout performers Core Scientific and Terawulf, with their caller AI focus, some saw implicit 300% returns.
This year, though, the miners that HODL bitcoin person powerfully benefited, with RIOT, HUT and CLSK each outperforming bitcoin. Only Bitdeer (BTDR) has generated antagonistic returns, aft seeing a beardown show successful 2024.
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