BTC miners adopted ‘treasury strategy,’ diversified business in 2024: Report
In 2024, the combined market capitalization of public Bitcoin mining companies reached $50 billion for the first time.
2024 was a record-breaking year for the Bitcoin mining industry, but increased competition and sector volatility compelled several companies to adopt new strategies.
According to a Jan. 7 report by NiceHash and Digital Mining Solutions, public miners followed in MicroStrategy’s footsteps by increasing their Bitcoin (BTC) treasury holdings.
“In 2024, a notable shift emerged among Bitcoin miners, with many opting to retain a larger portion of their mined Bitcoin or refraining from selling altogether,” wrote report authors Nico Smid and Cindy Geng.
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Author: Sam Bourgi
