According to Odaily, an analysis by BlocksBridge Consulting on the financial earnings of 12 listed Bitcoin mining companies reveals that 10 of these firms have raised a total of $2 billion in equity financing activities. The profitability of these companies is expected to decline after the halving. In Q4 of 2023, these companies raised $1.25 billion. Marathon Digital, CleanSpark, and Riot Platforms were the companies that raised the most funds last quarter, accounting for 73% of the total.
As of the end of March, Marathon, CleanSpark, and Riot collectively held $1.33 billion in cash and over 32,200 Bitcoins. BlocksBridge Consulting predicts that financing activities may decrease in Q2 of 2024. As of May 15, investments in the primary listed Bitcoin mining company stocks were less than $500 million. Since Q2, financing activities seem to have cooled down, but this figure is already higher than the third quarter of last year.
