Since the year began, both bitcoin and the broader crypto economy have risen a great deal in value, with bitcoin climbing over 150% since Jan. 1, 2023. Yet, an impressive 11 out of 13 bitcoin mining firms listed on Nasdaq have seen even more substantial triple-digit increases this year. Topping them all, Marathon Digital Holdings experienced a significant 767% rise since the year’s commencement.
13 Nasdaq-Listed Bitcoin Miners Triumph in 2023
Bitcoin mining companies flourished this year, rebounding from a turbulent 2022. All 13 firms listed on Nasdaq, the electronic marketplace for securities swaps, have posted gains. A significant portion of these publicly traded miners outperformed bitcoin (BTC) this year. With the block reward halving event anticipated in approximately 116 days, 2024 is shaping up to be a pivotal year for mining companies and observers alike.
Marathon (Nasdaq: MARA) claimed the leading position this year, rising 767% since the beginning of the year. MARA’s shares traded at $3.40 at the onset of 2023 and have escalated to $31.07 per share today. Bitfarms (Nasdaq: BITF) experienced a significant uptick of 705%, escalating from $0.4267 in January 2023 to a present value of $3.51 each. Meanwhile, Bit Digital (Nasdaq: BTBT) ascended by 703% this year, and Iris Energy (Nasdaq: IREN) increased by 629%.
Cleanspark (Nasdaq: CLSK) surged 539%, Riot Platforms (Nasdaq: RIOT) leaped 433%, and Terawulf (Nasdaq: WULF) expanded by 332%. Hut8 (Nasdaq: HUT) catapulted by 324% against the U.S. dollar since January, while Argo Blockchain (Nasdaq: ARBK) advanced by 312%. The mining firm Hive (Nasdaq: HIVE) witnessed a 283% uplift, and Greenidge Generation (Nasdaq: GREE), with a 174% increase, was the final mining firm to surpass BTC’s gains.
The other publicly listed mining firms still witnessed gains with Stronghold Digital (Nasdaq: SDIG) rising 117% and Bitdeer (Nasdaq: BTDR) jumping 31%. As 2023 winds down, the surge in bitcoin and mining companies underscores a thriving sector, outpacing broader markets. With Marathon leading at 767% and even the lowest gains still impressive, the industry looks toward 2024’s halving event with anticipation, ready for potential shifts in profitability and further growth in the dynamic landscape of crypto mining.
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