According to TheMinerMag’s weekly report, several listed mining companies have significantly increased their investments in Bitcoin mining machines. They have ordered over 70 EH/s of Bitcoin mining equipment this year, with a total investment of over $1.2 billion. Nearly $750 million of this investment was completed in the past two months. These investments indicate the mining companies’ optimistic expectations for the future of the Bitcoin market.
Prior to the upcoming Bitcoin halving event, many listed mining companies have increased their investments in Bitcoin mining machines. According to TheMinerMag’s recent weekly report, multiple mining companies have already ordered more than 70 EH/s of Bitcoin mining equipment this year, which accounts for about 536.03 EH/s of the total Bitcoin network hash rate. The total investment exceeds $1.2 billion, with nearly $750 million invested in the past two months.
This investment growth may be driven by the continuous increase in Bitcoin prices since mid-October, which has boosted the confidence of mining companies to increase their investments. Some of these purchases have already been paid for, while others will be paid in monthly installments starting from next year.
According to data from Miningpoolstats, the total Bitcoin production value in the past 24 hours, calculated at the current Bitcoin price, is about $37.74 million, with an annualized production value of approximately $13.789 billion. Compared to the $1.2 billion investment in Bitcoin mining machines by mining companies this year, the current annualized production value is only about 11 times the investment amount.
Considering the cost of energy and other expenses, the cost-effectiveness of this investment seems low. However, many mining companies still choose to increase their investments, indicating their optimistic expectations for the future of the Bitcoin market and their willingness to make large-scale investments at this stage to seize the upcoming market opportunities.
Chinese Bitcoin mining machine manufacturers emerge as the biggest winners
It is worth noting that Chinese Bitcoin mining machine manufacturers, such as MicroBT and Bitmain, have become the main beneficiaries of these procurement transactions.
In the confirmed $1.1 billion investment reported by TheMinerMag, MicroBT and Bitmain accounted for 56% and 42% of the shares, respectively, while Canaan occupied the remaining market share. This data highlights the dominant position of these three Chinese companies in the cryptocurrency mining equipment market, especially against the backdrop of increasing global demand for high-performance Bitcoin mining machines.
In addition, according to TheMinerMag’s latest weekly report, North American Bitcoin mining giant Marathon may achieve its highest monthly production of over 1,500 BTC in December, surpassing Core Scientific’s record of 1,527 BTC in January 2022, setting a new record for publicly listed mining companies.
This goal is based on the company’s current average daily block production rate. As of the first ten days of this month, Marathon’s MaraPool has mined 68 Bitcoin blocks, yielding 499 BTC, with a daily average of approximately 49.9 BTC. It is worth noting that 14.27% of these 499 BTC comes from transaction fees, thanks to the surge in on-chain activity.
The mining pool currently has a hash rate of 21.9 EH/s, accounting for 92.4% of Marathon’s total hash rate. If Marathon continues to operate steadily for the remaining time in December and the Bitcoin network hash rate does not increase significantly, it may exceed a production volume of 1,500 BTC.
Chinese Bitcoin mining machine manufacturers, such as MicroBT and Bitmain, have emerged as the main beneficiaries of these procurement transactions, accounting for 56% and 42% of the $1.1 billion investment, respectively. Canaan occupies the remaining market share. This data highlights the dominant position of these three Chinese companies in the cryptocurrency mining equipment market, especially against the backdrop of increasing global demand for high-performance Bitcoin mining machines.
Additionally, according to TheMinerMag’s latest weekly report, Marathon, a North American Bitcoin mining giant, may achieve its highest monthly production of over 1,500 BTC in December, surpassing Core Scientific’s record of 1,527 BTC in January 2022, setting a new record for publicly listed mining companies.
This goal is based on Marathon’s current average daily block production rate. As of the first ten days of this month, Marathon’s MaraPool has mined 68 Bitcoin blocks, yielding 499 BTC, with a daily average of approximately 49.9 BTC. It is worth noting that 14.27% of these 499 BTC comes from transaction fees, thanks to the surge in on-chain activity.
The mining pool currently has a hash rate of 21.9 EH/s, accounting for 92.4% of Marathon’s total hash rate. If Marathon continues to operate steadily for the remaining time in December and the Bitcoin network hash rate does not increase significantly, it may exceed a production volume of 1,500 BTC.