Bitcoin (BTC-USD) prices seem to want to settle somewhere in the mid to upper $60,000s. Prices have continued to test those levels over the past few weeks. We are also quickly approaching the next Bitcoin halving. The run-up in price is creating a grouping of must-own crypto mining stocks for blockbuster returns.
Mining rewards will decline following the upcoming Bitcoin halving. That should make existing coins more valuable based on the principle of scarcity.It should also make the companies skilled in mining Bitcoin more valuable.
Crypto mining is essentially confined to Bitcoin. Although other mining firms focus on different assets, Bitcoin is king. Therefore, the best crypto mining stocks to own will focus on it.
Marathon Digital Holdings (MARA)
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Marathon Digital Holdings (NASDAQ:MARA) is perhaps the best-known crypto mining stock of all. Its shares are among the most well-established by price and currently trade around $20. However, they are quite volatile and have traded between $15 and $31 in 2024.
As of March 5, Marathon Digital Holdings controlled 16,930 Bitcoin. That equated to a cash and Bitcoin value of approximately $1.5 billion for the firm. That is impressive, given how much BTC prices have risen in the past.
Investors should also take note of how dramatically Marathon Digital Holdings has increased mining production. The company mined 4,144 Bitcoin in all of 2022. That figure more than tripled to 12,852 Bitcoin in 2023. Thus, the narrative surrounding Marathon Digital Holdings is as much about the dramatic rise in Bitcoin prices as it is about the firm’s ability to mine those assets. That should continue tomake MARA shares valuable.
CleanSpark (CLSK)
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CleanSpark (NASDAQ:CLSK) is a differentiated crypto mining stock worth owning for investors who believe in the sector. Crypto mining is well known to be highly energy intensive. Bitcoin hasfaced a lot of criticism in the past for that reason.Some investors worry that those intense energy demands will contribute to global warming. Thus, some investors avoid investing in Bitcoin when they might have otherwise.
That’s where CleanSpark comes in. Its data centers run primarily on low-carbon power sources. That narrative will continue to make CleanSpark interesting to sustainable investors.
The company mined 806 Bitcoin in March. That represented a 24% increase sequentially over February. The company held 5,021 Bitcoin at that point.
CleanSpark brought additional production sites online during that period. Of the 5,021 Bitcoin clean spark holds, 2,031 were minedduring the first three months of 2024. The company is clearly making an effort to carve out a larger position overall, which could logically send its share price higher.
Bitdeer Technologies (BTDR)
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Bitdeer Technologies (NASDAQ:BTDR) recently released results showing it missed revenue and EPS estimates during the 4th quarter. The negative results took share prices from $9 down to about $6. However, there were plenty of positives to be found in that earnings report.
Revenues grew, and net losses narrowed. Those two metrics are essentially the most basic but important when considering the health of a given company. Further, Bitdeer increased its overall hash rate by 50% during 2023.
I’ve highlighted this fact before, but it bears repeating: Bitdeer is by far the lowest all-in cost Bitcoin miner. Sooner or later that should allow the company to more easily find solid business operations.
Bitdeer may have lost a bit of shine due to the disappointing earnings report, but it’s still the most efficient miner overall. If Bitcoin prices fall again, Bitdeer shares will immediately look that much more attractive.
On the date of publication, Alex Sirois did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.
FAQs
How Long Does It Take to Mine 1 Bitcoin? The reward for mining is 3.125 bitcoins. It takes the network about 10 minutes to mine one block, so it takes about 10 minutes to mine 3.125 bitcoins.
How long does it take to mine 1 Bitcoin? ›
How Long Does It Take to Mine 1 Bitcoin? The reward for mining is 3.125 bitcoins. It takes the network about 10 minutes to mine one block, so it takes about 10 minutes to mine 3.125 bitcoins.
How much can you make a month mining Bitcoin? ›
Crypto Mining Salary
| Annual Salary | Monthly Pay |
|---|
| Top Earners | $68,500 | $5,708 |
| 75th Percentile | $62,000 | $5,166 |
| Average | $55,819 | $4,651 |
| 25th Percentile | $48,500 | $4,041 |
The Bitmain Antminer S21 Hyd 335T is the most profitable Bitcoin mining machine currently, followed by the Canaan Avalon Made A1266, and MicroBit Whatsminer M50S. If you want to mine other cryptocurrencies, the Bitmain Antminer KS3, Bitmain Antminer D9, and Bitmain Antminer K7 are all solid choices.
How much does it cost to mine Bitcoin? ›
Mining a Bitcoin depends on your energy rate per Kwh, it costs $11,000K to mine a Bitcoin at 10 cents per Kwh and $5,170K to mine a Bitcoin at 4.7 cents per Kwh. Learn how and if mining right for you in 2024! As Bitcoin's price goes up, so do the miners' prices.
Can Bitcoin be mined for free? ›
Mining Bitcoin for free is a bit tricky. It typically requires specialized hardware and consumes a significant amount of electricity. While there are some apps and websites that claim to offer free Bitcoin mining, they often turn out to be scams or not very effective.
How to earn 1 Bitcoin per day without investment? ›
Obtaining 1 BTC per day without any cost or risk is not possible. While there are various ways to obtain Bitcoin, such as through mining or trading, all of these methods come with some level of cost or risk.
How to make 1000 a month mining crypto? ›
Generating $1000 a month with crypto mining is possible but requires careful research. Options like staking, master nodes, lending, dividends, and Cloud Mining can contribute to your income. Diversify your portfolio and be mindful of associated risks, as with any investment.
Is crypto mining worth it anymore? ›
With the right setup, Bitcoin mining is profitable. However, there is no definitive way to know how much money you will make from Bitcoin mining. This is because there are many variables that can determine profitability. For a start, you'll need to purchase Bitcoin mining equipment – known as ASICs.
What is the cheapest way to mine Bitcoin? ›
Cloud mining platforms such as ECOS or Bitcoin Minetrix can offer a low-cost alternative route. The mining industry is highly competitive. You will be up against professional and well-funded Bitcoin mining companies. Other factors like hash rate and mining difficulty will also come into play.
Bitcoin mining can be a lucrative way to make money with Bitcoin, but not for individual investors. Because of the computing power required, the upfront and ongoing costs can far outpace mining rewards earned.
Which coin can I mine for free? ›
Top 5 Free Mining Coins in 2023.
- Pi network. The Pi Network is a platform that allows users to mine Pi cryptocurrency from their mobile phones without draining the battery. ...
- Avive Coin. ...
- ICE network. ...
- Sidra Bank. ...
- Bondex Orign.
Riot Platforms
In a crowded field, Riot Blockchain (RIOT -1.49%) and Marathon Digital (MARA 2.21%) have risen to become leaders in the competitive Bitcoin mining industry. While both have found success, they have done so in vastly different ways. But only one is set up for more promised long-term success: Riot.
How much electricity does Bitcoin mining use per day? ›
Assuming the share of global activity in the United States remains approximately 38%, we estimate electricity usage from Bitcoin mining based in the United States to range from 25 TWh to 91 TWh. That estimate represents 0.6% to 2.3% of all United States electricity demand in 2023, which was 3,900 TWh.
How much can you make mining crypto at home? ›
For example, a rig of six MSI GeForce RTX 3080Ti graphics processing units (GPUs) will be most profitable when mining Ravencoin (RVN) and bring around $170 per month. Zcash (ZEC) can bring in almost the same revenue while mining Clore (CLORE) can earn $158 per month.
Is it cheaper to mine or buy Bitcoin? ›
Potential for higher returns: In certain situations, mining can be more profitable than simply buying Bitcoin. This is because miners are rewarded with newly minted Bitcoin, which can appreciate in value over time.
Is it possible to mine 1 Bitcoin a day? ›
Can you mine 1 Bitcoin a day? Yes, it is possible to mine 1 Bitcoin a day, although this would require a very large investment in mining hardware. In current Bitcoin network conditions, you would need over $10 million worth of Bitmain S19k Pro miners to mine 1 Bitcoin a day.
How much Bitcoin can you mine in a day? ›
Technically, you could mine as much as 900 Bitcoins per day taking into account the cryptocurrency's current inflation rate. Bitcoin's inflation rates halves every four year in a process known as the halving.
How many Bitcoin can 1 miner make? ›
Roughly every 10 minutes, 6.25 bitcoins are created by miners. If you're a miner, you have a chance at being the one who gets those 6.25 bitcoins. If you join a pool of miners your chance of winning is higher, but you share the reward with the other miners. Roughly every 4 years, this mining reward is cut in half.
How much Bitcoin is mined every 10 minutes? ›
How Many Bitcoins Are Mined Each Day? As of the first-half 2022, approximately 900 bitcoins were mined each day globally. Every 10 minutes, miners verify one block of bitcoin transactions. The current reward for verifying one block of bitcoin is 6.25 bitcoins.
