Most Public Bitcoin Miners Are Thriving

The bitcoin mining industry is booming, and public miners are employing all their efforts to increase daily production and refrain from selling. Marathon Digital, Hut 8, Riot Blockchain, Bitfarms, and HIVE produced a combined total of 1,475 BTC in November, worth nearly $80 million at the time of writing.

Bitcoin miners outside of China started enjoying increased profits as the communist country announced its crackdown on the industry. In the summer, the activity was banned entirely from Chinese soil, leaving no other option for miners than to relocate operations abroad. In the meantime, overseas companies in the industry started benefiting greatly from a decreased Bitcoin total hashrate, scoring bigger profits without increasing capacity. Now, months later and with a nearly fully recovered Bitcoin hashrate, the momentum has held.



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