Publicly Traded U.S. Crypto Miners Increase Bitcoin Holdings to 92,473
Publicly traded U.S. crypto mining companies increased their bitcoin (BTC) holdings to 92,473, valued at $8.6 billion by December 2023. This represents a doubling of holdings over the year, coinciding with a 120% price increase in BTC.
- MARA Holdings holds the largest amount with 44,893 BTC, followed by MicroStrategy with 450,000 BTC.
- Other significant holders include Riot Platforms with 17,722 BTC, Hut 8 with 10,171 BTC, and CleanSpark with 10,097 BTC.
- Some miners, like IREN, TeraWulf, and Core Scientific, hold minimal or no bitcoin and are shifting focus to AI and high-performance computing.
- While share prices of miners have lagged behind BTC, standout performers like Core Scientific and TeraWulf saw returns exceeding 300% due to their AI strategies.
- This year, miners that adopted the HODL strategy, such as RIOT, HUT, and CLSK, outperformed BTC, except for Bitdeer which posted negative returns.