Listed mining companies raised a total of $2.2 billion to cope with cash flow tightening after Bitcoin halving
After Bitcoin halving, listed mining companies are turning to debt financing to increase cash flow. According to data from BlocksBridge Consulting based on earnings reports, 9 of the 13 US listed companies raised a total of $1.25 billion through stock issuance in the second quarter of 2024. These include Bitdeer, Bitfarms, Cipher, CleanSpark, Core, HIVE, Marathon, Riot and Terawulf. In addition, Iris Energy raised $458 million in the previous quarter, bringing the total funds raised by miners to more than $1.7 billion. Another $530 million has been raised so far in the third quarter, bringing the total amount to more than $2.2 billion.
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