Bitcoin mining companies listed in the U.S. have raised $2.1 billion since Q2 amid falling hashprices and tightened cash flows following Bitcoin's halving. Thirteen public mining firms reported Q2 earnings, showing reliance on stock offerings and debt financing for operations.
Nine major players, including Bitdeer, Marathon, and Riot, collectively raised $1.25 billion through stock offerings. Equity financing totaled over $1.6 billion for the quarter. Iris Energy raised $458 million via an at-the-market offering, emphasizing the demand for capital.
Debt financing also surged, with Marathon and Core Scientific issuing convertible notes totaling $700 million. This reflects a strategic shift to manage liabilities and secure funds for expansion.
Hut 8 received $150 million through Coatue notes without additional stock offerings, showing diverse strategies to navigate the challenging post-halving market.
