Bitcoin miners started 2025 with a bang, eclipsing Bitcoin’s own rally. According to JPMorgan (JPM), 12 of 14 U.S.-listed mining companies outperformed the cryptocurrency in the first two weeks of the year. Their combined hashrate now represents 30% of the global network, double from last year. Riot Platforms (RIOT) led the gains with a 32% increase, while Bitdeer Technologies (BTDR) lagged with a 4% decline. The total market capitalization of these companies jumped by $4.5 billion, an increase of 16% since the start of the year.
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Miners adopt HODL strategy
According to CoinDeskUS-listed miners collectively hold nearly 100,000 BTC, valued at $8.6 billion. MARA Holdings (MARA) dominates with 44,893 BTC, almost half of the total, while Riot Platforms and Hut 8 (HUT) hold 17,722 BTC and 10,171 BTC, respectively. The HODL strategy – holding Bitcoin for the long term – has gained popularity among miners, demonstrating their confidence in Bitcoin’s potential.
Profitability Increases as Bitcoin Strengthens
Mining profitability saw an increase in December 2024, thanks to Bitcoin’s price increase of 15%. According to Jefferies, miners earned an average daily income of $59,585 per exahash, an increase of 7.1% from November. US-listed miners collectively produced 3,602 BTC during the month, with MARA leading the pack by mining 890 BTC.
The mining industry is seeing significant gains, with higher hash rates and improved profitability thanks to Bitcoin’s current rally. As Bitcoin prices climb, these companies are leveraging their strong reserves and growing efficiency to strengthen their presence in the cryptocurrency market.
What are the best crypto stocks to buy?
For investors looking to find crypto stocks that best suit their needs, conducting thorough research is crucial. A useful resource for this is TipRanks’ Compare Crypto Stocks tool. This tool allows investors to compare various crypto stocks side-by-side, looking at key metrics like historical performance, valuation ratios, and analyst price targets.
