BTC miners revamped strategies, hitting a $50B market cap in 2024, diving into treasury management and diversifying their business endeavors.
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Bitcoin mining became more profitable in December, marking two months of growth, according to JPMorgan. The hashrate increased by 54% in 2024, compared to a 103% rise in 2023.
Bitcoin miners are celebrating as their revenue and profits rise for two straight months, thanks to a growing hashrate. Despite challenges, mining difficulty plays a significant role in their profitability. Miners are riding the wave of success in this booming period, with no signs of slowing down.
Riot Platforms boosted their Bitcoin holdings by 141% in 2024 after mining 516 BTC in December. They completed significant advancements at their Corsicana facility and continued strategic BTC purchases. Riot aims to buy more Bitcoin by raising $500 million while seeing a notable surge in hash rate.
