Share this article
BTC
$85,189.09
+
0.76%ETH
$1,612.11
+
1.39%USDT
$0.9997
-
0.02%XRP
$2.0848
+
0.85%BNB
$593.55
+
0.19%SOL
$140.74
+
4.24%USDC
$0.9998
-
0.01%DOGE
$0.1575
-
0.26%TRX
$0.2448
+
1.47%ADA
$0.6305
+
0.04%LEO
$9.2925
+
0.69%LINK
$12.95
+
2.33%AVAX
$19.98
+
4.15%XLM
$0.2465
+
2.03%TON
$2.9686
-
1.10%SHIB
$0.0₄1237
+
1.42%HBAR
$0.1675
+
0.69%SUI
$2.1534
+
1.33%BCH
$339.46
+
0.54%HYPE
$18.08
+
6.73%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Publicly Traded U.S. Crypto Miners Double Bitcoin Holdings to Almost 100K in a Year
Bitcoin holdings for public U.S.-listed companies have more than doubled since January 2024.
What to know:
- U.S. publicly traded crypto miners approach 100k BTC HODL collectively.
- Few miners have outperformed bitcoin this year, with pure-play miners leading the way.
Publicly traded U.S. crypto mining companies doubled their bitcoin (BTC) holdings last year, taking the total to 92,473 valued at $8.6 billion as of end-December while the price of the largest cryptocurrency rose 120%, according to data from TheMiningMag.
The biggest amount, almost half of the total, is held by MARA Holdings (MARA) with 44,893 BTC. MARA has the second-largest stash among publicly listed companies, surpassed only by MicroStrategy's (MSTR) 450,000 BTC.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The strategy of investing in bitcoin and keeping it for the long term, known as HODL after a typing error made more than a decade ago, has grown in popularity in the past 12 months.
Three other miners hold more than 10,000 BTC: Riot Platforms (RIOT) with 17,722 BTC, Hut 8 (HUT) with 10,171 BTC and CleanSpark (CLSK) with 10,097 BTC, according to Bitcoin Treasuries.
Not all miners subscribe to the HODL playbook. IREN (IREN), TeraWulf (WULF), and Core Scientific (CORZ) all keep very little bitcoin or none at all. Due to the competitive nature of the business, these companies have pivoted into the artificial intelligence (AI) and high-performance computing (HPC) industries.
Share prices haven't matched bitcoin's trajectory. In general, the miners underperformed bitcoin and other crypto-related equities, such as MicroStrategy. Standout performers Core Scientific and Terawulf, with their new AI focus, both saw over 300% returns.
This year, though, the miners that HODL bitcoin have strongly benefited, with RIOT, HUT and CLSK all outperforming bitcoin. Only Bitdeer (BTDR) has generated negative returns, after seeing a strong performance in 2024.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
