Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
16 listed cryptocurrency mining companies have spent $3.6 billion so far this year on upgrading their factories, assets, and equipment

16 listed cryptocurrency mining companies have spent $3.6 billion so far this year on upgrading their factories, assets, and equipment

CointimeCointime2024/11/29 03:22
By:Cointime

Based on year to date data, the total expenditure of 16 listed crypto mining companies on plant, property, and equipment (PPE) upgrades (including new mining hardware) reached $3.6 billion. Since 2024, 16 mining companies have raised over $5 billion in funding, with the third quarter being the period with the highest PPE expenditures since the first quarter of 2022. Mining hardware expenditure accounts for the majority of PPE expenditure. Since 2023, the total expenditure of listed mining companies on hardware upgrades has reached $2 billion. The report explains that the lifespan of cryptocurrency mining hardware typically averages 3-5 years and must be regularly upgraded to maintain profitability. In addition, cryptocurrency companies are shifting from equity financing to debt financing.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like