Arcane Research: nearly 20% of bitcoin’s hashrate is controlled by public companies

According to analysts, more and more mining companies are entering the stock market

07.04.2022 - 13:40

260

1 min

What’s new? According to a report by the analytical company Arcane Research, public companies account for 19% of bitcoin’s total hashrate. In January 2021, this figure reached only 3%. The analysts say that more and more mining companies are entering the stock exchanges. As of April 2022, there are 26 public companies that are engaged in bitcoin mining.

Arcane Research’s report

What else does the report say? The analysts suggest that the growth in the number of public mining companies is due to the large players having wider access to capital, allowing them to expand faster than their private competitors. The report also says that North America accounts for the largest share of the hashrate of public companies. Overall, the mainland accounts for 44,95% of the global hashrate, according to the Cambridge Centre for Alternative Finance.

During the first quarter of 2022, the Marathon mining company mined a record number of bitcoins, 1259 BTC. Arcane Research also reported that Norway increased 1% of the global hashrate with green energy.

Author: