Although the price of Bitcoin has hit a record high, some publicly listed Bitcoin mining businesses have made considerable profits. The market value of the American company Riot Blockchain recently received a capitalization of $1 billion. At the same time, many other Bitcoin mining businesses have great demand for company shares.
Riot Blockchain, Inc.’s (Nasdaq: RIOT) share price has risen sharply, and the company’s recent market capitalization reached $1 billion. After trading at $3.47 per unit in the first week of November 2020, the stock price rose by 332% and is now trading above the $15 range on December 29.
Statistics for 2020 show that Riot’s stock price has risen by more than 1,200% during the year. By 2020, Riot is still one of the trends for companies to buy a large number of Bitcoin mining machines. The company purchased 15,000 S19 Pro and S19j Pro Antminer mining equipment from Bitmain on December 23.
In fact, Riot is not the only company to publicly issue bitcoin mining stocks, and its stock price has risen sharply. On December 11, 2020, Hut8’s stock exchange price was $1.46 per unit, but it has since increased by 154% to $3.71 per share.
Since December 11, the share price of Marathon Patent Group (Nasdaq: MARA) has risen 156%, when the share price was $4.63 per share. At the time of issue, Marathon’s share price was $11.87. Marathon is another company that recently reached an agreement with Bitmain to acquire 70,000 Antminers for $170 million, thus announcing the largest acquisition of the next generation of mining machines.
Microgrid software company Cleanspark (Nasdaq: CLSK) shares rose after the company announced that it would purchase 1,000 bitcoin mining machines. The deployed S19 Antminers will increase Cleanspark’s mining capacity to 300PH/s. Since December 11, 2020, CLSK’s stock price has risen from $13.21 to $26.82, an increase of 103%.
After the Chinese company Canaan Creative (Nasdaq: CAN) conducted an initial public offering (IPO), the stock has underperformed for quite some time due to its stock price plummeting.
However, recently, the value of CAN shares has increased since the price of Bitcoin (BTC) has increased. Although Canaan’s stock rose, they did not see the growth seen by the aforementioned Bitcoin mining company. Since the stock value of $3.39 on December 11, CAN’s stock price has reached $3.97.
What do you think of the public offering of mining business shares gaining huge value after the rise in Bitcoin prices? Let us know your thoughts on this topic in the comments section below.
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