In 2024, several publicly traded mining companies faced financial losses despite Bitcoin reaching new all-time highs.
Current State of Mining Companies
By the end of the year, 17 out of 25 public companies were in the red according to Hashrate Index data. MicroStrategy (MSTR) stood out, starting the year at $68 and peaking at $473.83 in November.
Diversification Efforts and Growth Leaders
Argo Blockchain Plc experienced the deepest losses, dropping 82.92%. In contrast, Bitdeer Technologies Group saw a 165.32% rise. Hut8 and Iris Energy Ltd also achieved successes in diversification and expansion.
BTC Mining Activity and Trends
BTC hashrate continues to rise, reaching over 770 EH/s. Foundry USA is the largest pool, controlling 31% of the total hashrate, with Antpool and ViaBTC as competitors.
Despite the stock value decline of specific companies, the HI Crypto Mining Stock Index posted growth thanks to stable performance in the chip and mining company sectors.
