The post $5B Raised, $3.6B Spent on Upgrades in 2024 appeared on BitcoinEthereumNews.com.

Bitcoin miners raised over $5 billion in 2024, allocating $3.6 billion to upgrading hardware and infrastructure, including new mining sites and technology. This investment aligns with the Bitcoin network’s hashrate surge, reaching a record 790 EH/s despite the halving event earlier this year. Public mining firms shifted from equity to debt financing, with $500 million in debt issued in Q3, the highest since early 2022. Notably, MARA Holdings issued $1 billion in 0% convertible notes to acquire 5,771 BTC. Plus, sustainable mining practices gained traction, balancing profitability and environmental concerns. Source: https://coinpedia.org/crypto-live-news/bitcoin-miners-invest-big-5b-raised-3-6b-spent-on-upgrades-in-2024/

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Filed under: News - @ November 30, 2024 1:28 pm