Bitcoin mining companies invested more than $1.2 billion in mining machines! Mining machine manufacturers achieve maximum profits

Before the upcoming Bitcoin halving event, a number of listed mining companies have significantly increased their investment in Bitcoin mining machines.

According to TheMinerMag weekly report, a number of mining companies have booked more than 70EH/s Bitcoin mining equipment this year, with a total investment of more than 1.2 billion US dollars. The Bitcoin computing power of the entire network is approximately 536.03EH/s.

Of this, nearly $750 million in investments were made in the past two months.

As the price of Bitcoin continues to rise, mining companies have increased confidence in increasing investment, leading to an increase in investment.

Some of these purchases have already been paid for, while others will be paid in monthly installments over the next year and beyond.

The procurement situation of listed mining companies this year

According to data from Miningpoolstats, in the past 24 hours, based on the current Bitcoin price, the total output value of Bitcoin was approximately It was US$37.74 million, with an annualized rate of approximately US$13.789 billion. Compared with the US$1.2 billion investment in Bitcoin mining machines by mining companies so far this year, based on the current annualized total output value, its returns are only about 11 times the investment.

Taking into account expenses such as energy costs, the cost-effectiveness of this investment does not seem to be high. However, many mining companies still choose to increase investment, showing their optimistic expectations for the future of the Bitcoin market and their willingness to make large-scale investments at the current stage to seize the upcoming market opportunities.

##The total output value (Emission) of Bitcoin in the past 24 hours is about 37.74 million US dollars

Chinese mining machine manufacturers have become the biggest winners

Worth it Note that Chinese Bitcoin mining machine manufacturers, such as MicroBT and Bitmain, have become the main beneficiaries of these purchase transactions.

Of the US$1.1 billion investment determined by TheMinerMag, MicroBT and Bitmain took 56% and 42% respectively, while Canaan occupied the remaining market share. This data highlights the dominance of the three Chinese companies in the cryptocurrency mining equipment market, especially against the backdrop of increasing global demand for high-performance Bitcoin mining machines.

Marathon challenges the industry’s monthly production record

In addition, according to TheMinerMag’s latest weekly report, North American Bitcoin mining giant Marathon may set a record monthly production of more than 1,500 BTC in December, which is expected to exceed CoreScientific's 1,527 BTC in January 2022 set a record for the largest monthly output of a public mining company.

This goal is based on the company’s current average daily block production rate. Marathon’s MaraPool has mined 68 Bitcoin blocks and obtained 499 BTC as of the first ten days of this month, with a daily average of approximately 49.9. BTC. Notably, 14.27% of the 499 BTC came from transaction fees, thanks to surging on-chain activity.

The mining pool’s current computing power reaches 21.9EH/s, accounting for 92.4% of Marathon’s total computing power. If Marathon continues to operate stably for the rest of December and the Bitcoin network computing power does not increase significantly, the output of 1,500 BTC may be exceeded.

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