My screen time is a little embarrassing to be honest. I sometimes clock up 7-8 hours per day of phone screen time. I should find something more constructive to do with my time. It’s tough when you’re so engrossed in online life & charts.

Sometimes it’s good to just leave your phone & all devices at home. Fresh air is good, going for walks & things like that are good for you.

Bitcoin mining companies have seen their valuations fall as the price of bitcoin (BTC) is in the midst of a bear market, depressing the profit margins of those who create it.

The performance of the exchange traded fund (ETF) Valkyrie Bitcoin Miners (WGMI) shows the extent to which the value of the crypto mining business was affected. As of 11 November, the fund was trading over 70% below its launch price in February 2022.

What are the largest public bitcoin mining companies and how are they weathering the storm? Here we take a look at the biggest mining stocks by market capitalisation.

What is bitcoin mining?
Bitcoin mining involves solving mathematical puzzles to process the transactions of the bitcoin blockchain and earn rewards. By performing this task, new BTC tokens are created and miners are compensated for their efforts, equipment and electricity bills.

Some sophisticated hardware is needed to mine bitcoin profitably as the difficulty of the puzzles increases to reduce the speed at which the asset’s supply expands. The largest bitcoin mining companies own thousands of devices that solve the problems faster than a human can. The total value of the BTC tokens they receive in return is considered the company’s revenue.

The cost of running large bitcoin mining companies includes the electricity needed to power the devices, maintenance for the mining farms’ expensive cooling systems, personnel and other operating costs typical to any business.

In 2022, the bitcoin mining sector entered one of its worst bear markets since the digital asset made its appearance in 2009 as a deterioration in macroeconomic conditions across the world has pushed the value of BTC to its lowest level in 20 months, as of early November.

Meanwhile, industry-specific developments such as the collapse of the Terra ecosystem and the Celsius Network, along with the FTX liquidity crunch hurt the price of BTC, sending shockwaves through cryptocurrency markets.


Largest public bitcoin mining companies
So what are the largest public bitcoin mining companies? Below is the list of the biggest miners by market capitalisation according to CompaniesMarketCap data as of 11 November.

Marathon Digital Holdings (MARA)
Marathon Digital (MARA) is the first stock on the list of bitcoin mining companies. The firm is a former uranium and vanadium exploration business turned to bitcoin mining after the firm merged with Global Bit Ventures back in 2017. By the end of 2021, the company reportedly accounted for 2.1% of the global bitcoin hash rate.
Marathon has facilities in South Dakota, Nebraska, Montana and Texas. The company aims to power its bitcoin mining facilities with renewable sources of energy by the end of the 2022 fiscal year.
By the end of 2021, Marathon had reserves of 8,115 BTC, including 4,794 it held in an investment fund. These holdings were valued at approximately $346m at that point, but are possibly worth much less now as the value of BTC has declined sharply in 2022. During this same period, the firm generated total revenues of $150.46m, but incurred a loss of $85.09m.

In addition, Marathon had long-term debt of $728.40m on total assets of $760.09m, including $268.52m in cash and equivalents. This appeared to be the most indebted crypto mining company on the list.

Riot Blockchain (RIOT)
Riot Blockchain (RIOT) is another stock on the biggest public bitcoin mining companies list. The firm also offers its facilities to other large-scale mining businesses so they can establish their own farms by taking advantage of the firm’s proprietary infrastructure.

Riot’s primary mining location is in Rockdale, Texas. The firm operated 30,907 mining rigs by the end of 2021, and had 4,884 BTC tokens in reserve that were valued at $159.54m at the time.
By the end of this year, the company produced $213.24m in revenue, most of which came from its proprietary mining operation. It also booked a net loss of $7.93m, had no long-term debt, and boasted $312.32m in cash and equivalents.

Canaan (CAN)
Canaan (CAN) is a Chinese company that has established a subsidiary in the Cayman Islands to be able to offer its common shares to US-based investors via American Depositary Shares (ADS). The firm has manufactured crypto mining rigs since 2013 for bitcoin mining companies under the Avalon brand.
So far the company has developed nine mining rigs, including the first generation of its A1246 units, which was released in 2020. The miner also produces AI-powered applications.
By the end of 2021, Canaan had 346 employees, produced revenue of $1.42bn – most of which came from the sale of its flagship mining rigs – and booked a net loss of $1.02bn. The company also reported no long-term debt and had cash and equivalents of $421.23m.

Hut 8 Mining (HUT)
Founded in 2017, Hut 8 (HUT) is one of North America’s oldest bitcoin mining companies. The firm is headquartered in British Columbia, Canada, and, apart from its main mining operation, also offers processing services to institutions.

According to its website as of 11 November, the firm had three digital asset data mining facilities, five multi-tier data centers for high-performance computing, more than 400 customers for its advanced computing solutions, and 7,078 BTC tokens in reserve as of 31 May 2022.
By the end of 2021, Hut 8 generated revenues of $173.77m and net losses of $72.71m. In addition, the firm had long-term debt of $24.2m and cash and equivalents of $140.13m.

Cipher Mining (CIFR)
Cipher (CIFR) is the last on our list of the five largest bitcoin mining companies. Cipher is a fast-growing industrial-scale firm with operations in the US. In February 2022, the firm started running its first facility in the country and had plans to activate another two to four sites that could be fully powered by renewable energy.
Cipher is a pre-revenue company. In 2021 full-year, the firm booked net losses of $72.15m, had no long-term debt, and reported cash and equivalents of $209.84m. The company went public in August 2021 via a merger with a special purpose acquisition company (SPAC) called Good Works.

In August 2021, it signed agreements with Bitmain Technologies and SuperAcme Technologies to acquire 27,000 and 60,000 miners respectively. A portion of this equipment should be up-and-running in 2022. However, the company’s latest quarterly reports do not yet show any revenues. Cipher’s mining operations will be based in Alborz, Texas, where its first facility has been built.

The bottom line
Note that the current list of the largest bitcoin miners is subject to change as the prices of individual shares fluctuate. Hence, this data shouldn’t be used as a substitute for your own research. Always conduct your own due diligence, studying the company’s fundamentals and technicals in detail, looking at the latest news and a wide range of analyst commentary.
Remember, past performance does not guarantee future return. And never trade money you cannot afford to lose.

https://capital.com/amp/biggest-global-crypto-bitcoin-mining-companies-ranking-btc

OP all I can say is that they weren’t very good ‘friends were they. 3 bitcoin really isn’t that much, it’s quite sad that people would ruin a friendship over money, especially an amount that whilst no joke, is not exactly lottery style amounts.

A true friend should be able to tell friends that he has some bitcoin & enjoys trading crypto currency.

My friends know my involvement but they have not kidnapped me, not yet any way haha.

Doge always seems to ride the wave on every significant, sustained bull wave. I don’t find it to have much utility & will probably never have any great RL use case. It has a lot of followers though, it’s a speculative investment, a shitcoin in every sense of the word but it does seem to do well.

I don’t see any reason why it won’t do well again. I’m not sure if Elon has any juice left in his shilling tank. Maybe he’s done all he can do to pump it now. It might need another catalyst. It can definitely reach new highs in the next bitcoin bull run though.

Nice positive post, I like it. Some might be more aesthetically pleasing than others, that is true but calling somebody ugly is so nasty. Beauty is in the eye of the beholder & there is somebody out there for everybody.
Looks don’t last forever, they fade with age so it’s always best to look for a potential partner who is great on the inside too.

I don’t think CBDC’s will negatively impact bitcoin at all. If anything it’ll probably push people towards bitcoin. CBDC’s are controlling & restrictive, where as bitcoin is great for people to control their own wealth.

Nobody wants the government being able to control their shopping & what they spend. CBDC’s are one step closer to social credit scores & literally nobody wants that. I suggest you buy bitcoin before CBDC’s come in & governments ban you from buying bitcoin.

Bitcoin is the future, CBDC’s are restrictive. Do not let anybody have the chance to stop you spending your money how you want to. Bitcoin is empowering & governments don’t like that.

Solana can & probably will recover & reach new highs in a few years. I know it’s had a few outages but at one stage it was touted as an ETH killer, a real competitor & maybe successor to Vitalik’s beast. If you hold Solana then I advise you to stay strong & don’t listen to the FUD, maybe even add to your position if you’re able to.

We are in a widespread macro economic recession bear market. Everything is down except inflation
Stay strong, keep your conviction because Solana & crypto in general will moon.

I think to learn & become well educated there has to be a big willingness from the pupil to succeed. It doesn’t matter how good the teacher is, if the pupil isn’t willing to be attentive, work hard & study at home away from the class then they will not do themselves justice & achieve their full potential.

Obviously it helps if the teacher is good & able to adapt to their pupils needs but there must be a willingness on the part of the pupil to work very hard so they can achieve their goals.

I wouldn’t be risking buying any kind of hardware wallet(s) from an unofficial source. It’s cool to buy stuff with bitcoin on black Friday. I remember people getting really excited many years ago on black Friday deals but just be careful out there.

It’s the same every bear market when max fear is spreading. I guess it’s human psychology, fight or flight response. Many choose to fly away & dump their coins.

You can’t do anything about these kind of weak people. In bearish times coins transfer from weak to strong hands.

The stench of absolute desperation. He is going to get what he deserves, hopefully a long jail sentence for ruining so many peoples lives. What him & his accomplices did is unforgivable, so many people trusted him & he betrayed them.

I know it’s dumb to store your wealth on exchanges for too long but that’s no excuse. He committee one of the biggest acts of fraud documented in modern financial history.

Throw him in jail & throw away the keys, his ugly gf & the others too.

I think it’s Ten Hag trying to stamp his authority & be the big man at Man Utd. Let’s be honest, Ronaldo is bigger than him in the game & has achieved so much more. Ten Hag is trying to assert power & show he is top dog.

I hope Ronaldo leaves in January & goes on to have a great season. He deserves much more respect, he still has a lot to offer.

Nobody takes control long term. Bitcoin & crypto moves in cycles, we currently, since the inception of bitcoin, move in four year cycles which are around the halving. Sentiment can change a lot & very quickly during the four year cycle but overall it swings from bull to bear market & even has a sustained period of sideways action, low volatility.

The best way to win in this game is just to buy & hold for many years. Nobody ever loses money this way in bitcoin. It takes a lot of patience & isn’t much fun but dollar cost averaging over years is fool proof. You will make much more profit this way than in any traditional bank savings or investment vehicle.

Whilst centralized platforms exist, there will always be fraud & theft. We all know the saying, not your keys, not your coins. It’s still so true! You need to take the risk away by withdrawing your coins from these scam factories.

As for a solution, there isn’t a guaranteed one other than don’t trust third parties & middlemen. You must take self custody. Proof of reserves only goes so far to mitigate scams.

Self custody, I will preach it every day until people listen.

The biggest sport in the world is about the start the biggest competition in the world.

The FIFA World Cup starts on Sunday 20th November. It will run for a month with the final being on 18th December. You can read more about the format & many other things here:
https://www.fifa.com/fifaplus/en/tournaments/mens/worldcup/qatar2022

Time seems to go quite slow or at least at a moderate pace from childhood to early adulthood. I feel like since I hit 30, it just seems to go by way too fast.

The weeks pass by like the speed of light. It’s Monday & then before you know it, it’s Thursday & you’re looking forward to the weekend which goes even faster.

Try to cherish every day because tomorrow is never promised.

We should be more interested in talking about good new like this, rather than centralized ponzi schemes going bust, run by scammers. Bitcoin (not crypto) is going mainstream & there’s nothing anybody can do to stop it.
Get on the right side of the new world order & buy as much bitcoin as you can. We are the new wealthy elite.

Him & his degenerative team created a monster that got too big. They couldn’t stay solvent, so they started gambling with user funds to try & do so. They could not afford to do what they were doing, sponsoring huge events, donations to politicians. It’s ridiculous tbh & I hope they all go to jail.

He ruined peoples lives, he should get 20 years for financial fraud.

Many, many people conquer addiction every day. It’s tough but everything good is tough to achieve.

You can do it, put everything you have into conquering your demons. Do it for yourself but also your family & friends. Everybody wants to see the best version of you. You can seek professional help to start your journey but a lot of success in recovery is a positive mindset & motivation to succeed.

A very bad idea. Are you not aware of what has only just happened in crypto space with FTX? Seriously, not your keys, not your cheese. Do not leave your assets in the control of any 3rd party for even a moderate amount of time. It is not worth the risk, we are in a deep bear market now. Many of these companies are not solvent, do not let them hold your coins.

Borrowing against your coins is a terrible idea.