Beursgenoteerde BTC Miners: Expanding Operations and Recovering from the Crypto Bear Market
In the past month, public Bitcoin (BTC) miners have seen significant growth and expansion. Despite a slight decrease in the Bitcoin price in July, these listed mining companies continue to strengthen their positions in the industry. This article explores the expansion of listed BTC miners, their competition, and the overall impact on network security.
Heading 1: Beursgenoteerde BTC Miners Expand their Operations
Bitcoin miners are constantly racing against each other to receive the block reward and associated transaction fees. This requires substantial computational power, with specialized computers solving complex cryptographic hash puzzles to add new transaction blocks to the blockchain.
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Heading 1.1: Hashrate and Network Security
The hashrate, which represents the total computational power of the network, has been consistently reaching record highs. This increase in hashrate indicates a rise in competition among miners, leading to a more secure network.
Heading 1.2: Marathon Digital’s Growing Influence
Marathon Digital and CleanSpark have significantly improved their competitive positions among all public miners in the past month. Marathon Digital, listed on Nasdaq, witnessed a 6.2% increase in operational hashrate from 17.7 exahashes per second (EH/s) in June to 18.8 EH/s in July. The company mined a total of 1,176 BTC in the past month, a 20% increase compared to the previous month and a 15-fold increase compared to July of the previous year.
Heading 1.3: CleanSpark’s Impressive Growth
CleanSpark stands out as the winner in terms of operational hashrate growth. According to a press release, the company’s total computational power increased by more than 13% in July. Starting with over 68,000 different miners and a total hashrate of 6.7 EH/s in June, CleanSpark now boasts 88,000 miners and a hashrate of 7.6 EH/s.
Heading 1.4: Stable Hashrates from Riot Platforms and Bitfarms
In contrast, Riot Platforms and Bitfarms have experienced minimal changes in their hashrates during July, with 10.7 EH/s and 5.3 EH/s, respectively.
Heading 2: Recovery of Bitcoin Miner Stocks from the Crypto Bear Market
Bitcoin miners also made headlines last week due to the exceptional performance of their stocks. In 2022, these giants of the Bitcoin industry faced significant losses during a severe bear market. However, this year has seen a rapid recovery, surpassing the massive price surge of Bitcoin.
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Heading 2.1: Impressive Stock Performances
With gains of hundreds of percentages, many mining companies are easily surpassing the remarkable increase in the Bitcoin price this year.
Public Bitcoin miners listed on various stock exchanges continue to expand their operations, capitalizing on the rising hashrate and securing the network. The recovery of their stocks from the crypto bear market further reflects the resilience and growth potential of the Bitcoin mining industry.