The last few years were marked by a rising institutional interest in Bitcoin (BTC). Publicly traded Bitcoin mining companies surged in numbers and capitalization, attracting giants like BlackRock.
However, these companies’ results tell a story of enormous challenges that must be overcome moving forward. In particular, data from CompaniesMarketCap shows total losses of $2.75 billion for the sector among 17 companies.
Bit Digital (NASDAQ: BTBT) is the “most profitable” publicly traded Bitcoin mining company. Notably, its total earnings of minus $28.39 million since 2022 Q4 are ranked first by this metric, followed by even worse results. BTBT has $300 million in market capitalization.
Top publicly traded Bitcoin mining companies by earnings. Source: CompaniesMarketCap
Results for the top 3 publicly traded Bitcoin mining companies
Meanwhile, the top three publicly traded Bitcoin mining companies have accumulated huge losses from their IPOs.
The top three are composed of Marathon Digi
We współpracy z: https://finbold.com/heres-how-much-the-most-profitable-bitcoin-mining-company-lost-in-a-year/
