Fast Take
Latest knowledge from Farside reveals that 8 out of the highest 30 publicly traded Bitcoin miners have achieved market capitalizations exceeding $1 billion.
Marathon Digital Holdings leads the pack with a market cap of $5.5 billion, adopted by Cleanspark at $3.6 billion and Riot at $2.9 billion. Different notable miners embrace IREN and Core Scientific, every valued at $1.5 billion, Northern Knowledge at $1.4 billion, Cipher Mining at $1.3 billion, and Terawulf at $1 billion. Bitfarms, Hut 8, and Bitdeer Applied sciences are additionally approaching the $1 billion mark. Collectively, the entire market cap of those 30 miners stands at $23 billion.
The Bitcoin Miners ETF, WGMI, has risen 9% this 12 months, a major restoration from its earlier 26% year-to-date decline. WGMI’s efficiency diverged from MicroStrategy (MSTR) in late February — MSTR has surged 134% YTD, whereas Bitcoin itself has elevated by over 53%. As compared, MSTR boasts a market cap of barely over $28.
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