BTC is up 113% this year, while only 7 of 25 listed mining companies have achieved positive returns

Here is the English translation: According to Bit Finance News, as of December 24, Bit increased by 113% in 2024. And according to the Hash Rate Index and Google Finance data, most listed mining companies were in a downward trend in their stock prices by the end of 2024, with a drop of up to 84%. Among the 25 listed mining companies in the index, only 7 achieved positive returns. As of the time of writing, Bitdeer (BTDR) increased by 167%, Cipher (CIFR) increased by 33%, Hut 8 (HUT) increased by 91%, Iris Energy (IREN) increased by 72%, Northern Data (NB2) increased by 58%, Core Scientific (CORZQ) increased by 327%, and TeraWulf (WULF) increased by 169%. On the other hand, Argo Blockchain (ARB) decreased by 84%, followed by Sphere 3D (ANY) decreasing by 69%, MARA Holdings (MARA) decreasing by 12%, Hive (HIVE) decreasing by 29%, Greenidge (GREE) decreasing by 74%, Bitfarms (BITF) decreasing by 44%, and BitFufu (FUFU) decreasing by 18% (just to name a few). Overall, 2024 was a year for Bit mining companies to adapt to changes, as they addressed the issues of reduced rewards and increased costs, and sought new revenue sources to maintain operations. Bit miners' cumulative revenue exceeded $71 Billion. According to Blockchain.com data, miners' revenue on December 22 was $42 million, while the peak in April exceeded $100 million. Meanwhile, the current average difficulty of the Bit network is 108.52T, higher than the 72.01T a year ago, an increase of 50.71% over the past 12 months. Due to the increase in operating costs, mining expenses have also increased significantly. For example, BitFuFu reported that Bit mining costs increased by 168%, reaching $51,887 per BTC, while mining capacity increased by 62.5%. To strengthen their financial position, many listed mining companies turned to the capital markets. In the second quarter, 9 out of 13 Bit mining companies listed in the US raised about $1.25 Billion through stock issuance. This trend continued into the third quarter, raising an additional $530 million, totaling over $2.2 Billion.