Odaily Planet Daily News As of December 24, Bitcoin has risen 113% in 2024. According to the Hashrate Index and Google Finance data, most publicly listed mining companies are in a downward trend in stock prices by the end of 2024, with declines as high as 84%. Among the 25 listed mining companies in this index, only 7 achieved positive returns. As of the time of publication, Bitdeer (BTDR) rose 167%, Cipher (CIFR) rose 33%, Hut 8 (HUT) rose 91%, Iris Energy (IREN) rose 72%, Northern Data (NB2) rose 58%, Core Scientific (CORZQ) rose 327%, TeraWulf (WULF) rose 169%. On the other hand, Argo Blockchain (ARB) fell 84%, followed by Sphere 3D (ANY) down 69%, MARA Holdings (MARA) down 12%, Hive (HIVE) down 29%, Greenidge (GREE) down 74%, Bitfarms (BITF) down 44%, BitFufu (FUFU) down 18% (just to name a few). Overall, 2024 is a year for Bitcoin mining companies to adapt to changes as they cope with reduced rewards and increased costs, seeking new sources of income to sustain operations. Bitcoin miners have accumulated over $71 billion in revenue. According to data from Blockchain.com, miners earned $42 million on December 22, while the peak in April exceeded $100 million. Meanwhile, the current average difficulty of the Bitcoin network is 108.52 T, up from 72.01 T a year ago, a 50.71% increase over the past 12 months. Due to rising operational costs, mining fees have also increased significantly. For example, BitFuFu reported that the cost of Bitcoin mining increased by 168%, reaching $51,887 per BTC, while mining capacity grew by 62.5%. To strengthen their financial position, many listed mining companies turned to the capital markets. In the second quarter, 9 out of 13 publicly listed Bitcoin mining companies in the U.S. raised approximately $1.25 billion through stock issuance. This trend continued into the third quarter, securing an additional $530 million, totaling over $2.2 billion. (Cointelegraph)

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