1. Flurry of acquisitions in Bitcoin mining industry
2. Bitcoin miner deals top $466 million so far
3. Leading companies in Bitcoin mining

H.C. Wainwright, an investment bank offering strategic advisory and equity research, has launched a Bitcoin mining-focused deal tracker.

Flurry of acquisitions in Bitcoin mining industry

H.C. Wainwright, whose analysts cover most Bitcoin miners in the market today, announced the launch of the HCW BTC Miner M&A Deal Tracker after the crypto mining space experienced a flurry of deals year-to-date. According to Mike Colonnese, managing director of equity research at H.C. Wainwright, there has been a wave of mergers and acquisitions since Bitcoin’s fourth halving in April 2024. The halving event, alongside the approval of spot Bitcoin exchange-traded funds, catalyzed the BTC price surge to its all-time high above $73,000 in March. Following this, many miners struggled to keep machines online due to block subsidy reductions and rising network difficulty.

Bitcoin miner deals top $466 million so far

Despite the above scenario, leading Bitcoin mining companies have looked to bolster their operations with key acquisitions, which H.C. Wainwright says exploded post-halving. About 67% of deals completed so far in 2024 came after the recent reward halving. These deals total $466 million so far, with acquirers taking on 574 megawatts of capacity for an average valuation of roughly $812k per megawatt.

Leading companies in Bitcoin mining

Among the BTC miners with strong balance sheets that have made massive M&A deals are CleanSpark and Marathon Digital. Riot Platforms and Bitfarms have also sealed key deals, which were all-stock acquisitions for Stronghold Digital and GRIID Infrastructure respectively. H.C. Wainwright has a buy rating for CLSK, MARA, RIOT and BITF stocks.

Amid post-halving growth and intense competition in the Bitcoin mining sector, leading companies continue to actively seek opportunities to expand their capacities and strengthen their market positions.