Facts on Bitcoin Miners: Insights into Key Companies 🏗️💡🚀 BTC + $100

Facts on Bitcoin Miners: Insights into Key Companies 🏗️💡🚀 (returns since Jan 2024)

Bitcoin mining companies play a crucial role in the cryptocurrency ecosystem, utilizing high-performance computing hardware to solve complex problems and validate Bitcoin transactions. The rewards for mining include newly minted Bitcoin, but profitability depends on factors like Bitcoin’s price, mining difficulty, and operational efficiency.

SOLD all my $BTC today at $100.4K

It has been a fun ride holding the corn all the way from FTX bankruptcy and Luna ponzi (<$20K) to euphoria again.

Not buying back until $31K here is why..

(1/6) pic.twitter.com/4dRh0t2tii

— Mr Wolf ⋈ ττ (@Wolfquant) December 7, 2024

Here’s a detailed look at some of the major Bitcoin miners and their performance! 💥🔍

https://www.barchart.com/shared-watchlist/3821?uid=6758578728d1c

Top Bitcoin miners 3 months by president62324 on TradingView.com

Source https://www.youtube.com/watch?v=aEi45oIHNm8

Fear and greed index Bitcoin

Public Companies that Own Bitcoin (source)

Entity	Country	Symbol:Exchange	Filings & Sources	# of BTC	Value Today	% of 21m
MicroStrategy		MSTR:NADQ	Filing | News	402,100	$41,303,145,039	1.915%
Marathon Digital Holdings Inc		MARA:NADQ	Filing | News	33,875	$3,479,592,236	0.161%
Riot Platforms, Inc.		RIOT:NADQ	Filing | News	10,019	$1,029,137,553	0.048%
Tesla, Inc		TSLA:NADQ	Filing | News	9,720	$998,424,694	0.046%
CleanSpark Inc		CLSK:NASDAQ	Filing | News	9,297	$954,974,731	0.044%
Hut 8 Corp		HUT:NASDAQ	Filing | News	9,109	$935,663,636	0.043%
Coinbase Global, Inc.		COIN:NADQ	Filing | News	9,000	$924,467,310	0.043%
Block, Inc.		SQ:NYSE	Filing | News	8,211	$843,422,342	0.039%
Galaxy Digital Holdings		BRPHF:OTCMKTS	Filing | News	8,100	$832,020,579	0.039%
Bitcoin Group SE		BTGGF:TCMKTS	Filing | News	3,830	$393,412,199	0.018%
HIVE Digital Technologies		HIVE:NASDAQ	Filing | News	2,377	$244,162,088	0.011%
Voyager Digital LTD		VOYG:TSX	Filing | News	2,287	$234,917,415	0.011%
Cipher Mining		CIFR:NASDAQ	Filing | News	2,142	$220,023,219	0.01%
NEXON Co. Ltd		NEXOF:OTCMKTS	Filing | News	1,717	$176,367,819	0.008%
Semler Scientific		SMLR:NASDAQ	Filing | News	1,570	$161,268,186	0.007%
Exodus Movement Inc		EXOD:OTCMKTS	Filing | News	1,300	$133,534,167	0.006%
Brooker Group’s BROOK (BKK)		BROOK:BKK	Filing | News	1,150	$118,126,378	0.005%
Metaplanet Inc.		3350.T:TYO	Filing | News	1,142.3	$117,335,445	0.005%
Bit Digital, Inc.		BTBT:NASDAQ	Filing | News	992.4	$101,937,928	0.005%
Meitu		HKD:HKG	Filing | News	941	$96,658,193	0.004%
Bitfarms Limited		BITF:NASDAQ	Filing | News	850	$87,310,801	0.004%
SOS Limited		SOS:NYSE	Filing | News	675.6	$69,396,679	0.003%
Phunware, Inc.		PHUN:NASDAQ	Filing | News	630	$64,712,711	0.003%
NFT Investments PLC		NFT:AQSE	News	626	$64,301,837	0.003%
DMG Blockchain Solutions Inc.		DMGGF:OTCMKTS	Filing | News	467	$47,969,581	0.002%
Alliance Resource Partners		ARLP:NASDAQ	Filing | News	425	$43,655,400	0.002%
MercadoLibre, Inc.		MELI:NADQ		412.7	$42,391,962	0.002%
Net Holding Anonim Sirketi		NTHOL TI:IST		352	$36,156,943	0.002%
Neptune Digital Assets		NPPTF:OTCMKTS	Filing | News	349	$35,848,787	0.002%
Advanced Bitcoin Technologies AG		ABT:DUS	Filing | News	254	$26,090,521	0.001%
DigitalX		DGGXF:OTCMKTS	Filing | News	216	$22,187,215	0.001%
LQwD FinTech Corp		LQWDF:OTC	Filing | News	151	$15,510,507	0.001%
BIGG Digital Assets Inc.		BBKCF:OTCMKTS	Filing | News	150	$15,407,788	0.001%
Banxa Holdings Inc		BNXAF:OTCMKTS	Filing | News	136	$13,969,728	0.001%
DEFI Technologies		DEFTF:OTC	News	110	$11,299,044	0.001%
Genius Group		GNS:NYSE	Filing | News	110	$11,299,044	0.001%
BTCS Inc.		BTCS:OTCMKTS	Filing | News	90	$9,244,673	0.0%
Digihost Technology Inc.		HSSHF:OTCMKTS	Filing | News	82	$8,422,924	0.0%
Canada Computational Unlimited Corp.		SATO:TSXV	Filing | News	75	$7,703,894	0.0%
SATO Technologies Corp.		SATO:TSXV	Filing | News	68	$6,984,864	0.0%
FRMO Corp.		FRMO:OTCMKTS	Filing | News	63	$6,471,271	0.0%
Metromile		MILE:NASDAQ	Filing | News	25	$2,567,964	0.0%
MOGO Inc		MOGO:Nasdaq	Filing | News	18	$1,848,934	0.0%
Argo Blockchain PLC		ARBKF:OTCMKTS	Filing | News	11	$1,129,904	0.0%
			Totals:	525,226	$53,950,477,952	2.501%

🌌 Galaxy Digital Q3 2024 Financial Results 🌟
📅 November 7, 2024

📊 Highlights:

• 📉 Net Loss: $54M in Q3, improving from $177M in Q2.
• 📈 Revenue Growth: Over 30% QoQ, despite a 15% drop in industry spot trading volumes.
• 💰 Net Income YTD: $191M, driven by strong Bitcoin and digital asset markets.
• 💵 Equity Capital: $2.1B as of Sept. 30, 2024.
• 📊 Bitcoin & Ethereum ETFs: $469M in Q3 (+12% QoQ).

🏗️ Helios Campus Expansion
Galaxy signed a non-binding agreement with a U.S.-based hyperscaler to utilize Helios’ 800MW capacity for high-performance computing. Final agreements are pending due diligence.

📈 Nasdaq Listing Progress
Galaxy is advancing plans to reorganize as a Delaware company and list on Nasdaq, pending regulatory and shareholder approvals.

Canaan Inc. (NASDAQ: CAN),

📅 Important Announcement Dates:

• September 30, 2024: Third Tranche of Preferred Shares Financing announced 🏦💡
• November 1, 2024: Order placed by CleanSpark for Avalon A1566I Miners, marking a strategic collaboration in the mining space 💡🤝
• November 11, 2024: Agreement signed with HIVE Blockchain Technologies for Avalon A1566 Miners, further expanding self-mining infrastructure 🖤🔋
• November 20, 2024: Follow-on Order from HIVE Blockchain Technologies for 5,000 Avalon A15-194T Miners, expanding the hash rate ⚡🌍
• November 20, 2024: Expanding self-mining operations in key locations such as Texas and Pennsylvania, aiming to increase overall production capacity 📍🇺🇸
• November 20, 2024: Execution of Securities Purchase Agreement for the funding, offering a flexible pathway to capitalize on growth opportunities 📄💰

🧮 Mining Revenue for Q3 2024:

• Total Mining Revenue: $9.0M, driven primarily by efficient mining operations 🏦💵
• Bitcoins Owned: 1,212 BTC, equivalent to approximately $77 million at current market value 🪙📈
• Installed Mining Power: 4.6 EH/s, demonstrating significant growth in computational mining capacity ⚡🚀
• Percentage of Revenue from Mining: 29.8%, reflecting mining as a core contributor to overall revenue 💡📊

🔧 Current Self-Mining Projects (As of November 20, 2024):

• Active Self-Mining Projects: 7, strategically located in North America and beyond 🌍⚙️
• Current Installed Hash Rate: 4.96 EH/s, with further installations planned to push growth 📈🔋
• Expected Hash Rate: 5.52 EH/s by the end of the year, continuing to enhance operational efficiency and scalability 🔧💥

📈 Mining Strategy for 2024:

• Strategic Goals: Focused on expanding the self-mining footprint while maintaining visibility and compliance with legal and regulatory frameworks ⚖️📋
• Focus Areas: Balancing rapid expansion with healthy cash flow and profitability 💸💡
• Advanced Machines: Deploying high-efficiency mining rigs (such as the A15 Pro) for optimal self-mining performance 🤖🔧
• Targeted Hash Rate: Aiming for 10 EH/s by the first half of 2025, a key milestone for the organization 🏆🚀

💡 Product Details: Avalon A15 Miners:

• A15 Pro: Outstanding 215 TH/s hash rate, with an energy efficiency of just 16.8 J/T, one of the best performers in the industry ⚡💪
• A15 XP: Reliable with 200 TH/s hash rate, offering a solid combination of power and energy efficiency at 17.8 J/T 🔋🔧
• A15: Offering a hash rate of 188 TH/s with 18.8 J/T efficiency, a balanced choice for scalable mining operations 💡⚡

🌍 Global Mining Locations:

• Canada: Small but strategic installation with 0.02 EH/s capacity 🇨🇦, continuing to expand across the region
• Ethiopia: Significant expansion in Ethiopia with 3.96 EH/s, marking a growing presence in Africa and a solid base for future operations 🇪🇹⚡

📊 Computing Power Growth:

• Historical Growth: A remarkable 3,458x increase in computing power since 2013, showcasing the company’s ability to scale rapidly in the competitive mining industry 📈💥
• Efficiency Gains: Power efficiency has seen a massive improvement, with a 99.8% reduction in energy required per TH/s, cementing the company’s position as an industry leader in sustainable mining 🔋🌱

🔋 Avalon Miner Power Efficiency:

• A13 Series: Energy consumption of 30J/TH, an earlier generation in the evolution of Avalon Miners ⚡
• A14 Series: Improved efficiency at 23.3J/TH, a substantial leap towards greener, more efficient mining 🔋
• A15 Pro: Cutting-edge energy efficiency at just 16.8J/TH, making it a prime choice for large-scale mining operators 💡

💰 Securities and Capital:

• Securities Purchase Agreement: This agreement provides up to $30M of funding, ensuring the company has ample resources to expand and optimize operations 💵
• Warrant Exercise: Early exercises by investors have already raised $2.6M, supporting capital growth 💸

🔒 Financial Strategy:

• Preferred Shares Financing: Successfully raised $10M through the issuance of preferred shares, providing a stable source of funds for ongoing and future projects 💰💡
• Additional Warrants: Issued to investors as part of the financing package, ensuring flexibility and growth opportunities 🚀💼
• Strategic Partnerships: Continuing to work closely with HIVE Blockchain Technologies, CleanSpark, and other major players in the mining industry to secure the best equipment and resources for self-mining expansion 🤝🔧

🌐 Future Growth Plans:

• Power Growth: The company aims to reach a hash rate of 10 EH/s by 2025, positioning itself as a leader in the mining sector 🔋🚀
• Geographic Expansion: Significant focus on increasing mining capacities in Texas and Pennsylvania, key locations in North America, ensuring access to low-cost energy and ideal regulatory environments 🌍🇺🇸
• Sustainability Focus: Ongoing commitment to improving energy efficiency, reducing carbon footprints, and scaling operations responsibly 💡🌱.
• Earnings call video

 MicroStrategy (MSTR) 📊🚀

• Performance: MicroStrategy has seen an impressive +557.87% return, reflecting its massive Bitcoin exposure. 📈💰 The company holds over 150,000 BTC (Bitcoin) on its balance sheet, positioning itself as one of the largest corporate Bitcoin holders globally.
• Mining Operations: MicroStrategy doesn’t run its own mining rigs but focuses heavily on Bitcoin accumulation. It uses its treasury to purchase Bitcoin, believing in Bitcoin as a long-term store of value. 🏦💎
• Investment Strategy: Under the leadership of CEO Michael Saylor, MicroStrategy has been buying Bitcoin on a consistent basis, using its balance sheet to capitalize on Bitcoin’s price appreciation. 📊🔥
• Market Influence: The company’s stock is closely linked to Bitcoin price movements, making it a popular choice for Bitcoin enthusiasts seeking exposure to cryptocurrency without directly buying coins. 📉➡️📈

 Core Scientific  (CORZ) 💥📈 (BUY) Earnings Beat   

• Performance: Corz has experienced +410.17% return, showcasing its mining operations’ success and strategic expansion. 🚀💸
• Mining Focus: Corz operates a dedicated mining business, utilizing cutting-edge hardware to produce Bitcoin and secure blockchain transactions. Its mining operations have been designed for scalability, enabling the company to increase its Bitcoin production over time. 🖥️⛏️
• Expansion Plans: Corz has been scaling its operations, adding more machines to increase hash rate and enhance profitability. The company is expanding its mining fleet and increasing its data center capacity. 🏗️⚡
• Energy Efficiency: The company emphasizes energy-efficient mining, implementing sustainable technologies and low-cost energy sources to remain competitive in a volatile market. 🌱⚡

Bit Digital (BTBT) 🚀📊

• Performance: Bit Digital demonstrating its aggressive expansion and Bitcoin mining growth! 💥📈
• Global Operations: Bit Digital operates worldwide, with mining operations in North America, Europe, and Asia. This global footprint helps mitigate risks associated with local energy costs and regulatory changes. 🌍💻
• Strategic Partnerships: The company collaborates with data centers and other infrastructure providers to optimize mining operations and reduce overhead costs. 🤝🏢
• Sustainability Efforts: Bit Digital is committed to reducing its carbon footprint, and many of its mining facilities are powered by renewable energy sources like hydroelectric power. 🌎💚🌞

• Contract Delay: A contract worth $50 million 💰 was delayed because the client was waiting for Nvidia’s Blackwell B200 GPUs 🖥️, which were not yet available. The second tranche of the contract is expected to move forward once Blackwell GPUs are distributed by Nvidia 🔜.
• Revenue Target: Despite the delay of the second tranche ⏳, the company reached its $100 million annualized run rate target 📈 by securing other clients 🤝, achieving this milestone in just a few months 🗓️.
• $30 Million Deposit: The client has paid a non-refundable deposit of $30 million 💵 as part of the contract for the Blackwell machines, indicating strong commitment to the deal 🔒.
• Blackwell GPUs: The Blackwell B200 GPUs 🖥️ are much more powerful ⚡ than current alternatives (e.g., H200 GPUs), offering unparalleled computational capabilities 🧠 needed for high-performance computing (HPC). They are expected to be critical 🔑 for meeting the growing demand in HPC and inference 🧮. These GPUs require sophisticated tier-three data centers 🏢 with liquid cooling 💧.
• Data Center Expansion: The company is building tier-three data centers 🏗️ in anticipation of the Blackwell GPUs, ensuring readiness ✅ to meet future demand in HPC and inference 🖧.
• Client Contracts: The company secured a mix of private and public company contracts 🏢, with revenue recognition expected 📅 in the current year.

4. Hut 8 Mining (HUT) 🔋⛏️. Earnings Beat (BUY)

• Performance: Hut 8 has seen a +50.32% return, showing moderate growth despite fluctuations in Bitcoin prices. 📉📈
• Mining Focus: Hut 8 is one of the largest Bitcoin miners in North America, with a vast array of mining rigs located in Canada. Its operational scale allows the company to take advantage of economies of scale and maximize profitability. 🇨🇦💪
• Energy Use: Hut 8 is focused on energy-efficient mining solutions, partnering with green energy providers to power its operations with renewable energy. 🔋⚡🌱
• Growth Strategy: Hut 8 plans to expand its mining capacity, continually investing in the latest mining hardware to stay competitive in the rapidly evolving space. 🏗️💼

• 🚀 Fleet Upgrade: Hut 8’s self-mining fleet upgrade will boost mining margins by 18% 🔥, adding 2.3 Bitcoin per day! 📈💰
• 💡 Power Cost Reduction: Power cost slashed from 4.0 cents to 2.8 cents per kilowatt-hour ⚡, making Hut 8 one of the most efficient Bitcoin miners on the market 🌍💸.
• 🖥️ Mining Efficiency: The fleet’s efficiency will improve to 19.9 jewels per terahash, cutting break-even price to just 99 cents per kilowatt-hour 🏅💡.
• 💧 Cooling Innovation: Direct liquid-to-chip cooling systems are up to 3,000 times more efficient than air cooling 🌊🔧, and will help manage heat at Hut 8’s facilities 🌡️❄️.
• 🛠️ Bitmain Partnership: Hut 8 collaborates with Bitmain, co-innovating custom chip and rack designs for efficient Bitcoin mining 🚀🤝.
• 💰 Revenue Growth: Hosting agreement with Bitmain ensures a 55% margin and a floor of $135 million in revenue 💼💵.
• 🔌 Self-Mining Flexibility: Hut 8 can convert hosted machines to self-mining with no wait time, enhancing profitability 💹⚡.
• 🌐 Global Supply Chain: Even with potential tariff impacts, Hut 8 has secured an international path for chip production and assembly 🌏🔒.

5. Riot Platforms (RIOT) ⚡💻

• Performance: Riot Platforms has seen a -32.22% decline in its stock price, a reflection of the high volatility in Bitcoin mining stocks. 📉⚠️
• Mining Focus: Riot is one of the largest Bitcoin mining companies in the U.S., with mining operations spread across various locations. It focuses on expanding its mining capacity and leveraging advanced technologies to increase efficiency and output. 💻🔧
• Scalability: Riot is known for its rapid expansion, investing heavily in the latest mining hardware and facilities to keep up with the increasing demand for Bitcoin. 🏗️💥
• Sustainability: Riot is also dedicated to green energy solutions, including using wind and solar power to reduce its environmental impact. 🌬️☀️

📊 ATM Funding Update:
In August, we processed another ATM for $750M, utilizing $230M so far 💰, with $520M remaining 📉. In our presentation 📑, we mentioned that we’ve essentially funded growth through 2025 🚀 with significant cash reserves and assets like Bitcoin 🪙 (currently holding over 11,000 coins ⛓️) 🏅. This positions us well to manage retail investor concerns about dilution. While selling shares at low prices 💸 isn’t ideal, we’ve found that ATMs can be a great alternative to debt 💳.

💡 Future Financing Plans:
We’re carefully considering how we use ATM financing in the future 💼. There are now more non-equity financing options, like Bitcoin-backed loans 💰, with improving terms 🔑. We’re also exploring other ways to raise funds without issuing more shares 📉. Plus, we’ve accumulated 400M in cash 💵 on our balance sheet, giving us flexibility 📊.

📈 Bitcoin Strategy:
As a low-cost producer, we’re effectively dollar-cost averaging through mining 🛠️, which helps us accumulate Bitcoin at prices lower than the market rate 💰. We believe this is a more strategic approach rather than buying Bitcoin at market prices 💎. But we are open to future Bitcoin purchases if needed, based on market conditions 💡.

🤖 HPC Opportunities:
We’ve seen increased interest in HPC (high-performance computing) recently 📞. Back in June, we hadn’t received any inquiries, but now we’re having discussions with top-tier counterparties 🏢, especially after seeing the success of the Core Scientific deal 🤝. While Bitcoin mining remains our main focus, we are open to HPC if the right deal comes through 💼. The power capacity we have is valuable, and we’re always looking for ways to monetize it 🌐.

🔋 Future Potential:
Our next buildings 🏗️ (C1, C2, D1, D2) will take up another 40% of our power 🌍. But we are still focused on Bitcoin mining 🪙 for the moment. We’re in no rush to shift directions, and we think big deals take time ⏳, especially with hyperscalers looking 2-4 years ahead 🕰️.

6. Marathon Digital Holdings (MARA) 🏃‍♂️💨

• Performance: Marathon Digital has seen a -10.31% decline, reflecting the volatility in both the cryptocurrency market and mining operations. 📉💔
• Mining Focus: Marathon is known for its large-scale Bitcoin mining operations across North America. The company’s focus is on scaling its mining fleet and improving the hash rate to enhance Bitcoin production. ⚡💻
• Strategic Investments: Marathon is continually expanding its mining capacity by investing in state-of-the-art hardware and seeking partnerships with mining infrastructure providers. 🏗️🤝
• Energy Solutions: Like many other miners, Marathon is making efforts to use sustainable energy sources and reduce reliance on traditional electricity grids. 🌱💡

7. Hive Blockchain (HIVE) 🐝⚡

• Performance: Hive Blockchain has seen a -21.88% decline, reflecting the volatility of the cryptocurrency market. 📉
• Mining Focus: Hive is a well-established Canadian-based mining company with a strong emphasis on environmentally-friendly mining. It focuses on producing Bitcoin and Ethereum using a combination of renewable energy and high-efficiency mining rigs. 🍃💎
• Global Presence: Hive has diversified its operations across Canada, Iceland, and Sweden, tapping into low-cost electricity regions to minimize operational expenses. 🌍💡
• Renewable Energy: Hive is a leader in using renewable energy, powering its facilities with hydroelectric, wind, and solar energy sources. 🌞🌊🍃

8. Bitfarms (BITF) 💻🔋

• Performance: Bitfarms has experienced a -36.73% drop, indicating the tough market conditions Bitcoin miners are facing. 📉
• Mining Focus: Bitfarms is a Bitcoin mining powerhouse, known for its large-scale operations in Canada, Argentina, and the U.S. The company operates a substantial fleet of mining rigs. 💻🇨🇦🇺🇸
• Growth Strategy: Bitfarms has been expanding its operations by acquiring more mining rigs and increasing its overall hash rate to ramp up Bitcoin production. 🚀💡
• Energy Efficiency: The company places a strong emphasis on sustainability, using renewable energy sources for mining and striving for carbon neutrality. 🌱🔋

These Bitcoin miners represent a wide range of approaches to cryptocurrency mining, from large-scale operations to sustainability efforts. Each company faces its own set of challenges, from fluctuating Bitcoin prices to rising energy costs. As the market continues to evolve, these miners will have to innovate and adapt to remain competitive. 🌍⚡💰

🌍 About IREN 🌍 (BUY ) underperforming BTC

⚡ Bitcoin Mining:

• 🛡️ Securing Bitcoin network since 2019 ⛓️
• 🚀 Expanding to 50 EH/s by H1 2025

🤖 AI Cloud Services:

• 💻 1,896 NVIDIA H100 & H200 GPUs
• 🚀 Serving AI customers since 2024

🏗️ Data Centers:

• 🔋 360MW operational, expanding to 810MW in H1 2025
• 🏢 Purpose-built for high-performance computing

🛠️ Technology:

• ⚙️ Optimized tech stack for AI & Bitcoin operations

🌱 Renewable Energy:

• ♻️ 100% clean energy sources or RECs
• 🌟 Low-cost, underutilized renewable power
• 🏘️ Supporting grids & local communities

🌐 Development Portfolio:

• 🔌 2,310MW secured across North America
• 🏞️ >1,000 acres & growing pipeline

🌟 Pioneering the future of Bitcoin, AI & beyond! 🚀

📊 Economics & Costs Overview 📊

⛏️ Bitcoin Mining Costs:

• 💸 All-in Cash Cost per Bitcoin: ~$29,000 🪙
• 💡 Transition to spot electricity pricing at Childress (Aug 2024): Reduced volatility ⚡
• 🛠️ One-off Costs: $7.2M to close out electricity hedges (Aug–Sept 2024)

📈 Revenue Breakdown (Q1 FY25): 26 nov 2024.