Charting the recent insider transactions of U.S. public mining stocks
Bitdeer's stock is down 18% year-to-date, underperforming that of bitcoin
Six public mining companies have raised over $1 billion in Q1 so far
Core bought 2.52 EH/s of Bitmain's S21 miners in October for $20/TH/s
CleanSpark, Iris Energy, HIVE raised $210M+ since New Year
Expect further equity financing to fund hashrate growth
Mining stocks recover from recent sell-off, eyeing new yearly highs.
Bitcoin's daily production benchmark dropped to an all-time low below 2 BTC/EH/s in January.
Ten-folded From $76M to $775M
Since the New Year, bitcoin mining firms have continued doubling down on miner purchases while securing options to lock in cheaper prices
In February 2022, Iris Energy expected 10 EH/s to be operational by early 2023. It is now moving closer to that goal – by Q2 2024.
Texas alone is set to add at least another 500 MW by Q2.