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Publicly Traded U.S. Crypto Miners Double Bitcoin Holdings to Almost 100K in a Year
Bitcoin holdings for public U.S.-listed companies have more than doubled since January 2024.
17 gen 2025, 10:24 a.m. Tradotto da IA
What to know:
- U.S. publicly traded crypto miners approach 100k BTC HODL collectively.
- Few miners have outperformed bitcoin this year, with pure-play miners leading the way.
Publicly traded U.S. crypto mining companies doubled their holdings last year, taking the total to 92,473 valued at $8.6 billion as of end-December while the price of the largest cryptocurrency rose 120%, according to data from TheMiningMag.
The biggest amount, almost half of the total, is held by MARA Holdings (MARA) with 44,893 BTC. MARA has the second-largest stash among publicly listed companies, surpassed only by MicroStrategy's (MSTR) 450,000 BTC.
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The strategy of investing in bitcoin and keeping it for the long term, known as HODL after a typing error made more than a decade ago, has grown in popularity in the past 12 months.
Three other miners hold more than 10,000 BTC: Riot Platforms (RIOT) with 17,722 BTC, Hut 8 (HUT) with 10,171 BTC and CleanSpark (CLSK) with 10,097 BTC, according to Bitcoin Treasuries.
Not all miners subscribe to the HODL playbook. IREN (IREN), TeraWulf (WULF), and Core Scientific (CORZ) all keep very little bitcoin or none at all. Due to the competitive nature of the business, these companies have pivoted into the artificial intelligence (AI) and high-performance computing (HPC) industries.
Share prices haven't matched bitcoin's trajectory. In general, the miners underperformed bitcoin and other crypto-related equities, such as MicroStrategy. Standout performers Core Scientific and Terawulf, with their new AI focus, both saw over 300% returns.
This year, though, the miners that HODL bitcoin have strongly benefited, with RIOT, HUT and CLSK all outperforming bitcoin. Only Bitdeer (BTDR) has generated negative returns, after seeing a strong performance in 2024.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Cosa sapere:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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