Report: 10 Listed Bitcoin Miners Raised a Total of $2 billion Through Equity Funding Before Halving

Listed bitcoin mining companies have strengthened their balance sheets in response to the latest halving event that took place in April. According to BlocksBridge Consulting's analysis of the financial earnings of 12 listed miners, 10 of which raised a total of $2 billion through equity financing activities, with profitability expected to decline after the halving. The group company raised $1.25 billion in the last quarter of 2023. Marathon Digital, CleanSpark and Riot Platforms were the companies that raised the most funds last quarter, accounting for 73% of the funds raised. Marathon, CleanSpark and Riot together held $1.33 billion in cash and more than 32,200 bitcoins as of the end of March.
Fundraising activity is likely to decrease in the second quarter of 2024. According to BlocksBridge Consulting, as of May 15, "less than $500 million was subscribed to major public mining stocks". "Fundraising activity appears to have cooled since the second quarter, but the figure is already higher than in the third quarter of last year," the report noted.