Bitcoin

Gains

According to data from Blockworks, some of the largest mining firms like Marathon Digital, Bitfarms and Riot Platforms have all been posting gains of between 17-19% since the Bitcoin rally began.
Leading mining firms have overshot their estimated earnings on a consistent basis. MARA has exceeded its earnings per share estimate in 25% of instances, whereas the broader crypto mining industry has outperformed the EPS estimate 61.8% of the time over the past 12 months, according to TipRanks data.
These gains are particularly noteworthy considering the hardships the Bitcoin mining industry has been facing: the hashrate for Bitcoin consistently stayed at an all-time high, marking increased competition for miners, the U.S. has seen energy prices start to rise in accordance with the onset of fall and cooler months.
It is noteworthy that spot prices for existing bitcoin ASICs continue to set all-time lows. Cheaper mining equipment is helping to drive down some operational costs in the face of increasing hash rate.
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Bitcoin Miners Post Gains Despite High Hashrate and Increasing Energy Price

TokenInsight

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