Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
16 listed cryptocurrency mining companies have spent $3.6 billion so far this year on upgrading their factories, assets, and equipment

16 listed cryptocurrency mining companies have spent $3.6 billion so far this year on upgrading their factories, assets, and equipment

CointimeCointime2024/11/29 03:22
By:Cointime

Based on year to date data, the total expenditure of 16 listed crypto mining companies on plant, property, and equipment (PPE) upgrades (including new mining hardware) reached $3.6 billion. Since 2024, 16 mining companies have raised over $5 billion in funding, with the third quarter being the period with the highest PPE expenditures since the first quarter of 2022. Mining hardware expenditure accounts for the majority of PPE expenditure. Since 2023, the total expenditure of listed mining companies on hardware upgrades has reached $2 billion. The report explains that the lifespan of cryptocurrency mining hardware typically averages 3-5 years and must be regularly upgraded to maintain profitability. In addition, cryptocurrency companies are shifting from equity financing to debt financing.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Corporate Crypto Eye $330B—Analysts Say Qubetics, Ethereum, and Injective Are Top Cryptos to Buy This Month

With $330B in corporate crypto demand forecasted, Qubetics, Ethereum, and Injective are standing out. Learn why analysts see Qubetics' $16.7M presale as a top crypto presale and how its cross-border utility redefines real-world blockchain adoption.Cross-Border Simplicity: How Qubetics Is Quietly Disrupting Global TransactionsEthereum Approaches Spectra Upgrade Amid Signs of Imminent VolatilityInjective Gathers Steam with Technical Surge and Bullish OutlookConclusion—And These Are the Top Cryptos to Buy Thi

Coinomedia2025/05/07 11:33
Corporate Crypto Eye $330B—Analysts Say Qubetics, Ethereum, and Injective Are Top Cryptos to Buy This Month

Is This the Perfect Dip? BTFD’s $0.0002 Entry Eyes 8,900% ROI as Cheems Slips, Sudeng Climbs—Best New Meme Coins for Significant Returns

Explore the best new meme coins for significant returns as BTFD eyes 8,900% ROI, Cheems slips, and Sudeng climbs. Find out what’s next for these trending tokens.BTFD Coin’s Referral Program Fuels Bullish FrenzySudeng Climbs Amid Renewed BuzzThe Bottom Line

Coinomedia2025/05/07 11:33
Is This the Perfect Dip? BTFD’s $0.0002 Entry Eyes 8,900% ROI as Cheems Slips, Sudeng Climbs—Best New Meme Coins for Significant Returns