Bitcoin Miners Allocate Stashes As Hut 8, HIVE Digital See Income Rise – Mining Bitcoin News

Recent data provided by HODL15Capital shows the notable Bitcoin holdings of some publicly traded mining companies as of November 15.

Major publicly traded Bitcoin miners in the United States, such as Marathon Digital (NASDAQ:MARA), Riot Platforms (NASDAQ:RIOT), Hut 8 (NASDAQ:HUT), CleanSpark (NASDAQ:CLSK), HIVE Digital (TSXV:HIVE), and Bitfarms (NASDAQ:BITF), have disclosed their BTC holdings as of November 15, according to data provided by HODL15Capital.

With an outstanding 27,562 BTC, Marathon Digital leads the group, followed by Riot Platforms with 10,928 BTC and Hut 8 in third place at 9,110 BTC.

Later on, CleanSpark, HIVE Digital, Cipher Mining, and Bitfarms have 8, 701 BTC, 2,624 BTC, 1,428 BTC, and 1, 188 BTC respectively.

Publicly traded Bitcoin miners 👇 $BTC HODL as of 11/15/2024$MARA $HUT $CLSK $HIVE $CIFR $BTBT $BITF $DMGI $IREN $CAN $CBIT $ANY $CORZ $SDIG $ARBK $WULF $MIGI $GREE $BTDR $GRDI $SLNH pic.twitter.com/7iwXQ3bMrS

— HODL15Capital 🇺🇸 (@HODL15Capital) November 17, 2024

Bitcoin mining companies’ diversification strategies and performance metrics

The recent price swings of Bitcoin and more general market sentiment have affected the performance of mining companies among these changes. Thanks to mining 234 BTC, Hut 8 recorded a noteworthy income rise of 101% last quarter.

Similarly, HIVE Digital’s activities are still strong; they mined 340 BTC in the same period.

Particularly, Marathon Digital has been in the news for breaking out from conventional mining operations. The business is entering artificial intelligence infrastructure and high-performance computing, therefore indicating a diversification strategy with perhaps conflicting results.

Although this action might help MARA be positioned for long-term expansion, it also begs questions regarding how this change may affect company valuation, which is mostly dependent on its main Bitcoin mining operations.

Meanwhile, Riot Platforms, with the second-largest BTC reserves among miners, has focused on improving operational effectiveness.

Despite these efforts, challenges such as rising mining difficulty and higher energy prices continue to impact all miners, driving them to optimize their operations further.

On the other hand, CNF reported just seven days ago that the mining difficulty of Bitcoin hit a fresh all-time high of $100 trillion. According to the MVRV indicator, the coin’s value was higher at that time than at present levels.

Notably, the MVRV exceeded its 365-day average and currently ranks higher than the four-year average, a trend usually connected with the cyclical behavior of Bitcoin.

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