**Crypto Mining Companies Ramp Up Spending Amid Financing Shift**

Publicly traded mining firms have splurged $3.6 billion on plant, property, and equipment (PP&E) upgrades in 2024, focusing heavily on new mining hardware. TheMinerMag reports that 16 companies raised over $5 billion this year, with Q3 marking the peak in PP&E spending since early 2022.

A notable trend is the shift from equity to debt financing, with Marathon Digital (MARA) issuing a 0% convertible note to acquire 6,474 Bitcoin for its treasury.

Meanwhile, Bitfarms and CleanSpark are expanding operations, and Hive Digital is investing in new ASICs for its Paraguay facility. However, Bitmain faces scrutiny over alleged ties to Huawei, affecting shipments of its Antminers due to US sanctions.