The 12 major publicly-traded miners, including Marathon Digital Holdings Inc. and Riot Platforms Inc., raised about $440 million through stock sales in the second quarter, a jump of almost 60% from the previous three months, according to data complied by TheMinerMag. The companies have raised over $4.9 billion since the start of 2021.
Bitcoin mining is an energy-intensive process in which firms use expensive specialized computers to validate records of transactions on the blockchain and earn rewards in the form of the token. This is done by thousands of the computers, or Bitcoin mining rigs, stacked on top of each other in data centers that use high amounts of electricity.
The issue can be a turnoff for investors that put more focus on cash flow and the return on invested capital. “I actually don’t see this as much of an issue,” said Steven McClurg, chief investment officer at Valkyrie Investments, which has a crypto-mining equity ETF. “A lot of companies make the mistake of issuing debt when debt is expensive, they are afraid of diluting shareholders because of the short-term consequences.”
Terawulf Chief Financial Officer Patrick Fleury told investors that the company will use at-the-market equity offerings cautiously.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures higher as 10-year yield backs off 16-year high: Stock market news todayStocks were pointing to gains at the open after a tech rally on Monday reversed some of the lackadaisical trading we've seen so far in August.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street rises as easing yields in the bond market relax the pressureNEW YORK (AP) — Wall Street is rising Wednesday as the pressure that's built on stocks recently from the bond market relaxed a bit. The S&P 500 was 1.2% higher in afternoon trading, trimming its loss for what's so far been a dismal August. The Dow Jones Industrial Average was up 203 points, or 0.6%, at 34,492, as of 2:13 p.m. Eastern time, and the Nasdaq composite rallied 1.7%. Big Tech stocks and others that benefit from easier interest rates led the way. They got some relief as the 10-year Tre
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street ticks higher in early trading, led again by Big TechNEW YORK (AP) — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street drifts a day after a rare August climb for stocksNEW YORK (AP) — Wall Street is drifting Tuesday and may be heading toward its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.1% in early trading, coming off a gain from Monday powered by Big Tech stocks.
Source: SooToday - 🏆 8. / 85 Read more »
Stocks mixed, 10-year yield sits near 16-year high: Stock market news todayStocks opened higher on Tuesday after a tech rally on Monday reversed some of the lackadaisical trading we've seen so far in August.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street stalls a day after a rare August gainNEW YORK (AP) — Wall Street drifted to a mixed closed ahead of a couple potentially market-shaking events later in the week. The S&P 500 fell 0.3% Tuesday, coming off a rare August gain that was powered by Big Tech.
Source: SooToday - 🏆 8. / 85 Read more »