BlockBeats news, as of December 25, Bitcoin has increased by 113% in 2024, compared to December 24. According to the hash rate index and Google Finance data, most listed mining companies are on a downward trend in stock prices by the end of 2024, with declines of up to 84%.
Among the 25 listed mining companies in this index, only 7 have achieved positive returns. As of the time of publication, Bitdeer (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hut 8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, Core Scientific (CORZQ) is up 327%, and TeraWulf (WULF) is up 169%. On the other hand, Argo Blockchain (ARB) is down 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%, and BitFufu (FUFU) down 18% (just to name a few).
Overall, 2024 is a year for Bitcoin mining companies to adapt to changes as they address the challenges of reduced rewards and increased costs while seeking new revenue sources to sustain operations.
