![]() ![]() So, if a particular investor is bullish on bitcoin and wants to outperform bitcoin itself, they might consider investing in a basket of mining stocks. Mining companies are also a high-beta investment vehicle (or leveraged play) for bitcoin investors. As more traditional financial analysts are paying attention to the mining market, it’s increasingly useful to gauge general sentiment around bitcoin. Share price performance for mining companies is a reasonably good gauge for broader investor interest in bitcoin, aside from the bitcoin price itself. ![]() Even though all types and sizes of mining units have their place in Bitcoin, some readers may wonder why the public mining market matters at all? In many Bitcoin circles, small-scale and at-home miners are the darlings, not institutional mining entities. And Marathon secured a 200 MW hosting deal.īitcoin’s price may still be well off its highs, but growth in the mining sector is still humming along. Compute North and Compass Mining signed a 75 MW expansion agreement. CleanSpark continues acquiring discounted mining hardware. Core Scientific secured $100 million in fresh financing and signed a 75 megawatt (MW) hosting deal. But what is arguably one of the most important sectors in the bitcoin economy is alive and growing even as the broader market is somewhat battered and beaten down. Other miners are continuing to hold many or virtually all of the coins they mine, including Hut 8, which is expanding its holdings, and Marathon, which sold no bitcoin in Q2 2022.Īnd despite the bear market, many public miners continue planning expansion projects.Ĭompared to six months ago, margins are still significantly tighter for miners. Core Scientific and Argo are examples of this. Some public miners are continuing to sell larger-than-usual amounts of their regular bitcoin production to weather the bear market. Greenidge boost production by 18% in June.Iris Energy boost production by 10% in May.Specifically on monthly bitcoin production, for example, the past few months have seen:
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