The year 2024 marked a record level of investment for publicly traded Bitcoin $95,847 mining companies in terms of facilities and equipment. According to TheMinerMag, these companies spent a total of $3.6 billion since the beginning of the year. The third quarter revealed the highest expenditure figures since the first quarter of 2022, with hardware upgrades accounting for a significant portion of total spending.

Mining Companies Shift Toward Debt Financing

Bitcoin mining firms have changed their financing strategies, emphasizing debt. As of 2024, 16 companies have raised over $5 billion in total funds. Mara issued zero-interest convertible bonds to purchase 6,474 BTC, thereby strengthening its corporate treasury.

Bitcoin Mining Companies

Bitfarms plans to host 10,000 new mining devices at its Pennsylvania facility through an agreement with Stronghold. Clean...