Categories: Blockchain Investments
Topics: Bitcoin

Bitcoin Mining Stocks Soar: Top Companies to Invest in Now

Publicly traded companies involved in the difficult and energy-intensive task of mining Bitcoin have exploded in value in the first half of 2023. 

In fact, most are up well over 100% and poised to push much higher in the months and years ahead.

Below, I highlight five hot Bitcoin mining companies to buy now as well as outline ten more that you should keep your eye on.

Here are the five hottest Bitcoin mining companies to buy in 2023:

• Riot Blockchain (NASDAQ: RIOT) is a Nasdaq-listed company that operates a Bitcoin mining facility in Rockdale, Texas. The company has a total hashrate of over 9.7 EH/s and has mined thousands of Bitcoins since its inception. 
• Marathon Digital Holdings (NASDAQ: MARA) is another Nasdaq-listed Bitcoin mining company with a total hashrate of over 17.7 EH/s. The company operates a Bitcoin mining facility in Hardin, Montana, and holds almost 12,000 Bitcoins.
• Bitfarms Ltd. (NASDAQ: BITF) is a Canadian Bitcoin mining company with a total hashrate of over 5.3 EH/s. The company operates Bitcoin mining facilities in Canada, the United States, and Argentina. 
• HIVE Blockchain Technologies (NASDAQ: HIVE) is a Canadian Bitcoin mining company with a total hashrate of over 3.3 EH/s. The company operates Bitcoin mining facilities in Canada, Sweden, and Iceland. 
• Hut 8 Mining Corp. (NASDAQ: HUT) is a Canadian Bitcoin mining company with a total hashrate of  2.6 EH/s. The company operates two Bitcoin mining facilities in Alberta, Canada. 

These are just a few of the many Bitcoin mining companies that are operating today. When choosing a Bitcoin mining company, it is important to consider factors such as the company's hashrate, location, and electricity costs.

It’s also important to note that the profitability of Bitcoin mining is constantly changing. As the difficulty of mining Bitcoin increases, the amount of profit that can be made from mining Bitcoin decreases.

Still, most Bitcoin mining companies have secured affordable energy that allows them to mine Bitcoin at scale even with increasing difficulty and cost. And that’s not to mention the fact that Bitcoin is heading into a new bull market in 2024 that will see its price increase dramatically.

In anticipation of this, I think now is a great time to buy Bitcoin mining stocks, especially if one is hesitant to buy and hold Bitcoin and other cryptocurrencies directly. Below I list ten other companies that I believe will be profitable in the months and years ahead.

CleanSpark, Inc. (NASDAQ: CLSK)

CleanSpark, Inc. is a leading Bitcoin mining company listed on the NASDAQ and incorporated in Nevada. The company was founded in 1987 as a provider of energy technology solutions for commercial and residential customers. In 2017, CleanSpark began to focus on Bitcoin mining and has since become one of the largest Bitcoin mining companies in the United States.

CleanSpark's Bitcoin mining operations are powered by low-carbon energy sources, such as hydroelectricity and solar power. The company is committed to sustainable Bitcoin mining and has a goal of becoming carbon neutral by 2025.

As of March 2023, CleanSpark's hashrate has grown to over 6 EH/s. The company expects to continue to grow its hashrate in the coming years.

Core Scientific, Inc. (OTC: CORZQ)

Core Scientific, Inc. is a blockchain infrastructure and software solutions company that provides high-performance computing and software solutions for the mining of digital assets. The company was founded in 2017 and is headquartered in Austin, Texas.

Core Scientific operates a fleet of over 200,000 miners and has a total hashrate of over 22 EH/s at its data center facilities in Georgia, Kentucky, North Carolina, North Dakota and Texas. The company's mining operations are powered by a mix of renewable and non-renewable energy sources.

Digihost (NASDAQ: DGHI)

Digihost Technology Inc. is a blockchain technology company that specializes in cryptocurrency mining. The company mines cryptocurrency in a low-cost and low-energy consumption data center in North America. Digihost currently owns 11,800 miners and growing, with an operating capacity of over 42 megawatts.

Digihost's mining operations are highly efficient. The company uses proprietary software to monitor its hardware 24/7 and to optimize its mining operations. Digihost also uses a variety of other techniques to reduce its energy consumption, such as cooling its miners with water instead of air.

DMG Blockchain Solutions (OTC: DMGGF)

DMG Blockchain Solutions is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. The company was founded in 2011 and is headquartered in Christina Lake, British Columbia, Canada.

DMG's core operations include:

• Data center operations: DMG operates a data center in Christina Lake, British Columbia, that is powered by hydroelectricity. The data center is used to mine Bitcoin and other cryptocurrencies.
• Data center services: DMG offers data center services to other cryptocurrency mining companies. These services include hosting, maintenance, and power supply.
• Software products: DMG develops and sells software products for the blockchain industry. These products include mining software, monitoring software, and reporting software.
• Forensic services: DMG provides forensic services to clients in the blockchain industry. These services include investigating blockchain-related crimes and providing blockchain-related due diligence.

Greenidge Generation Holdings Inc. (NASDAQ: GREE)

Greenidge Generation Holdings Inc. is a cryptocurrency datacenter and power generation company. The company operates a power plant in Dresden, New York, that is used to mine Bitcoin. Greenidge also owns and operates a natural gas-fired power plant in Spartanburg, South Carolina.

Greenidge was founded in 1998 and is headquartered in Fairfield, Connecticut. The company's CEO is David U. Anderson. 

Their power plant in Dresden, New York, has a capacity of 106 megawatts. The plant is powered by natural gas and uses water from the Seneca River to cool its operations. Greenidge's power plant in Spartanburg, South Carolina, has a capacity of 100 megawatts. The plant is also powered by natural gas and uses water from the Tyger River for cooling.

Greenidge's Bitcoin mining operations are powered by the electricity generated by its power plants and has a hashrate of over 1 EH/s.

Iris Energy Ltd. (NASDAQ: IREN)

Iris Energy Ltd is a Bitcoin mining company headquartered in Sydney, Australia. The company was founded in 2018 by Andrew Kelleher and is listed on the Nasdaq under the ticker symbol "IREN".

Iris Energy's mining operations are powered by renewable energy sources, such as hydroelectricity and solar power. The company has a hashrate of over 5.5 EH/s and has mined over 10,000 Bitcoins since its inception.

They are committed to sustainable mining practices and have a goal of becoming carbon neutral by 2025. Iris Energy is also a member of the Crypto Climate Accord, a group of companies committed to reducing the environmental impact of cryptocurrency mining.

The company has a low-cost electricity supply, which gives it a competitive advantage over other mining companies. 

Mawson Infrastructure Group Inc. (NASDAQ: MIGI)

Mawson Infrastructure Group Inc. (MIGI) is a digital infrastructure provider, with multiple operations throughout the USA. The company was founded in 2017 and is headquartered in Sharon, Pennsylvania.

Mawson's vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. The company's focus is on Bitcoin mining, and it has a growing portfolio of assets that includes:

• Data centers: Mawson owns and operates data centers in the United States, which are powered by low-cost hydroelectricity.
• Miners: Mawson owns a fleet of Bitcoin miners, which are used to mine Bitcoin.
• Energy: Mawson has long-term energy contracts in place, which provide it with a stable and predictable cost of electricity.

Sphere 3D Corp. (NASDAQ: ANY)

Sphere 3D Corp. (NASDAQ: ANY) is a cryptocurrency mining company headquartered in Mississauga, Canada. The company was founded in 2007 and is listed on the Nasdaq under the ticker symbol "ANY".

Sphere 3D's mining operations are powered by renewable energy sources, such as hydroelectricity and solar power. The company has a hashrate of over 1 EH/s.

Unlike most other Bitcoin miners, Sphere 3D is net carbon neutral. They are also a member of the Crypto Climate Accord, a group of companies committed to reducing the environmental impact of cryptocurrency mining.

Sphere 3D is a well-positioned Bitcoin mining company with a strong track record of growth. Their commitment to sustainable mining practices is increasingly important to investors in an ESG environment.

Stronghold Digital Mining, Inc. (NASDAQ: SDIG)

Stronghold Digital Mining, Inc. (NASDAQ: SDIG) is a Bitcoin mining company that wholly owns and operates a low-cost, environmentally beneficial coal refuse power generation facility. 

The company is headquartered in Pennsylvania and was founded in 2017.

Stronghold's mining operations are powered by the electricity generated by its power plant. The company's Bitcoin mining operations have a hashrate of over 3.0 EH/s.

TeraWulf Inc. (NASDAQ: WULF)

TeraWulf Inc. (NASDAQ: WULF) is a Bitcoin mining company that develops, owns, and operates fully integrated Bitcoin mining facilities in strategic locations across the United States. The company was founded in 2021 and is headquartered in Easton, Maryland.

Their mining operations are powered by 90%+ zero-carbon energy and they have a hashrate of over 5.5 EH/s.

TeraWulf appears to have a bright future along with the entire Bitcoin mining sector as the crypto market heats up yet again. 

And if you’re looking for individual coins or tokens to purchase, you can follow along with what I’m buying in my $50,000 real money portfolio. See three coins I’m buying now here.

Chris Curl
Editor, Daily Profit Cycle