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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

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    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

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    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

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    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

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    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

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    GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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Home Mining

These Bitcoin Mining Stocks Hit Their Stride Ahead of 2024 Halving

February 13, 2024
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These Bitcoin Mining Stocks Hit Their Stride Ahead of 2024 Halving
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As the 2024 Bitcoin halving approaches, investors are keenly observing the stock price movements of key players in the Bitcoin mining industry.

READ ALSO

New Hampshire Tops List of Most Crypto-Friendly U.S. States: Study

Riot Platforms Taps Data Center Veteran to Expand Beyond Bitcoin Mining

Stocks like Marathon Digital Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK) are navigating the tides while optimizing their strategies in anticipation of the 2024 halving.

Marathon Digital: A Sprint Ahead

Marathon Digital Holdings, a front-runner in the Bitcoin mining race, witnessed its stock rally by over 45% since the start of February.

In preparation for the Bitcoin halving, Marathon has intensified its mining operations, targeting maximum BTC extraction. December 2023 marked a record month for the company, mining 1,853 BTC. This is a 56% increase from November and a staggering 290% year-over-year rise.

Fred Thiel, CEO of Marathon Digital, attributes this growth to advancements in hash rate and operational efficiency.

Read more: How To Mine Cryptocurrency: A Step-by-Step Guide

Despite selling 704 BTC in December to cover operational costs, Marathon’s aggressive strategy is evident in its total holding of 15,174 Bitcoin as of year-end. Marathon’s stock price reflects this upward trend, closing near a 2-year high of $27.28 on February 12.

Thiel commented on his strategy for the upcoming halving:

“We believe that optimizing our costs through the benefit of some of the opportunities that will be available, post halving here, will enable us to continue to drive costs down significantly.”

Marathon Digital (MARA) stock price chart. Source: TradingView

See also  XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data

Riot Platforms’ Rocky Road

Riot’s journey in 2024 has been turbulent. Starting the year near $16, the stock experienced a sharp decline, dropping below $10 by January 19.

However, a subsequent rebound saw it climb back to the $16 mark, buoyed by Bitcoin’s price surge above $50,000. Despite these gains, Riot faces challenges.

The company’s primary expenses, including electricity, hosting, and depreciation of mining gear, are escalating. Riot’s expansion strategy, aiming for a hash rate of 100 EH/s, could potentially double its equipment depreciation costs post-halving.

Read more: Bitcoin Halving Cycles And Investment Strategies: What To Know

The cost per Bitcoin mined by Riot has alarmingly risen from $44,400 in Q4 2021 to $110,000 in Q3 2023, with the halving potentially tripling this figure to an unsustainable $183,000.

Crypto analyst Jason A. Williams commented on this phenomenon:

“The event, not as ruthless. Not as unforgiving to inefficient miners. Block fees are at or exceeding the block reward.”

Riot Platforms (RIOT) stock price chart. Source: TradingView

CleanSpark’s Expansion Amidst Challenges

CleanSpark has recently shown remarkable growth, with its stock surpassing the $16 mark. This performance is its best since late 2021, when Bitcoin was cooling off from its all-time high of $69,000.

CleanSpark is aggressively expanding its operations. This includes acquiring three Bitcoin mining facilities in Mississippi for $19.8 million, boosting its hashing capacity.

CEO Zach Bradford emphasizes the company’s commitment to geographic diversity and operational success. Bradford stated:

“With the addition of Mississippi to our portfolio, we are gradually increasing our geographic diversity and expect to apply our proven track record of success in this new and exciting operating environment.”

However, CleanSpark’s ambitious growth comes amid growing political scrutiny of Bitcoin mining in the US, with the Energy and Information Administration focusing on crypto miners’ electricity usage.

See also  ALTAVA’s AI-Powered Digital Wearables to Enhance Darewise’s Bitcoin Metaverse

CleanSpark (CLSK) stock price chart. Source: TradingView

Tags: AheadBitcoinHalvinghitMiningStocksStride

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