Bitcoin Mining Stocks and Companies To Buy
There’s no doubt that getting into Bitcoin comes with risks, so it’s only natural for you to be on the fence when looking for ways to cash in on the current bull run.
While you can always dabble in Bitcoin mining, doing so requires immense resources like GPUs or ASIC (application-specific integrated circuits) miners. And let’s not forget how energy-hungry mining can be, which is a problem given fuel prices these days.
Luckily, there’s a more accessible alternative — investing in Bitcoin mining stocks.
Buying mining stocks can give you the returns of Bitcoin mining without actually mining yourself. This way, your crypto venture can be profitable, and you won’t have to pay through the nose for expensive GPU or ASIC miners and electricity bills.
So, which companies should you go for in 2024? We’re here to answer that question. More information is below.
Let’s dive deep into the best Bitcoin mining stocks and companies worth your buck. By the end of this article, you’ll be better informed about which stocks and ETFs to invest in for the best returns.
But First, a Quick Disclaimer
We at QuoteColo commit to giving you the best guidance on all things Bitcoin-related, from colocation options to whether or not your next miner should be an AntmIner. However, a quick disclaimer may be necessary before diving into the best mining stocks and companies.
Investing in Bitcoin, ETFs, or any cryptocurrencies comes with inherent risks. Numerous factors are behind this, but it mainly comes down to price volatility in the cryptocurrency market.
To soften the potential blows of bearish trends, we’d like to remind you to conduct thorough research before going all in regarding your investments. Most importantly, before investing or mining yourself, consult with a Bitcoin and cryptocurrency partner with extensive experience in the space.
At QuoteColo, we’re just a call or quote request away if you need expert advice on all things related to Bitcoin and cryptocurrency.
Understanding Bitcoin Mining Rewards
Bitcoin Mining Stocks and Companies: Our Picks for 2024 and Beyond
There are over 70 Bitcoin mining companies in the country alone. With this many options, you’ll likely be a victim of paralysis by analysis as you sift through white papers, testimonials, and press releases to determine where your hard-earned fiat dollars should go.
Luckily, we at QuoteColo have done the heavy leg work on your behalf to narrow down your options.
Here are the best Bitcoin mining stocks and companies to invest in as of Q3 of 2024.
HIVE Blockchain Technologies
When you’re investing in a company, you want to know it’s backed by a solid approach. Few companies are as diversified and proven in their mining approach as Hive Blockchain Technologies.
Based in Vancouver, Canada, HIVE Blockchain Technologies (trading under the name of HIVE Digital Technologies LTD) has developed a core business that goes beyond simply mining Bitcoin. The company has set up advanced data centers for mining and streamlining data operations, which means it’s serious about efficiency.
What sets this crypto mining company apart is its diversification — it mines across several cryptocurrencies, which lowers their dependence on Bitcoin’s market swings alone. As a result, your investment is potentially shielded from some of the price volatility often associated with crypto markets.
Regulations are always a concern for investors — ask Bitcoin miners and investors in China — but with HIVE’s expanding geographical reach, you can sidestep regulatory and energy-related concerns. This means that you get an added layer of regulatory protection for your Bitcoin investments.
In short, choosing HIVE can be a safe and profitable decision as you’re entrusting your investments to a company focused on efficiency, diversification, and sustainable growth.
Signal entering BTC mining data center location
Hut 8 Mining Corp
Are you looking for a Bitcoin mining company that has a lot to offer? If so, Hut 8 Mining Corp may have caught your eye.
Hut 8 is a full-spectrum digital asset powerhouse located in Miami, FL. Hut 8’s strategy spans Bitcoin self-mining, hosting services, and even traditional data center operations. With these capabilities, the firm is a solid pick if you’re after diversified exposure in the crypto space.
But the offerings don’t stop there. True to its ethos of “staying ahead of the curve,” Hut 8 is always on the move to expand its scope. More specifically, the company continues to increase its mining capacity and hash rate so it can continue to mine for Bitcoin while keeping operations as efficient as possible.
Because of how efficiently the company operates, it’s capable of maximizing its mining yield at a fraction of the energy costs. What does this mean for you? It means that you’re choosing a company that can keep costs down while ensuring your investment is as lucrative as possible. This is reassuring news, especially in an industry that’s known for being an energy hog.
Riot Platforms
If you’ve been tuning into developments in the Bitcoin space for a while now, there’s a chance that you’re aware of how energy-hungry mining can be. Because mining costs a lot in terms of energy and hardware, you’ll want a company that can operate as efficiently as possible.
Riot Platforms may just be the Bitcoin mining company that’s worth a spot in your portfolio. Founded in 2020 and based in Castle Rock, Colorado, Riot quickly established itself as a serious contender in Bitcoin mining by prioritizing sustainable growth.
Riot’s core business is as straightforward as its name — large-scale Bitcoin mining — but the company’s commitment to energy efficiency sets it apart.
In 2021, Riot Platforms acquired ESS Metron, a major player in power distribution technology. With ESS Metron’s expertise, Riot has built mining operations that don’t just crank up the hash rate but do so while optimizing energy use.
According to many experts, this move is a sign of Riot’s long-term dedication to reducing operational costs and environmental impact. This is especially valuable There’s as the crypto industry faces growing scrutiny over energy consumption.
Bitfarms
Bitfarms is a strong candidate if you’re after a sustainable Bitcoin mining company. Due to its practical approach and operations in regions with affordable energy-efficient power, the company’s mining costs and environmental footprint are low, so you can potentially maximize your returns.
Bitfarms isn’t reliant on third-party setups, either. The mining company has built and managed its own vertically integrated mining farms, meaning it handles everything in-house, from installation to maintenance. Because of this level of control, their operations are seamless and efficient, so don’t worry about downtime. The company’s proprietary data analytics system even tracks performance in real-time, helping it stay at the top of its game.
Long-term power agreements are key to Bitfarms’ strategy. With these energy partnerships, Bitfarms LTD remains protected against unexpected energy cost hikes, so it’s a stable choice if you’re looking to minimize risks from outages.
All in all, to invest in Bitfarms is to back a company that’s serious about efficient mining, cost management, and sustainable growth. Bitfarms checks all the right boxes when efficiency and stability are must-haves in your ideal Bitcoin mining company.
Iris Energy
Energy efficiency is all the rage in the crypto space, and why wouldn’t it be? After all, it’s not like gas and GPU prices are coming down anytime soon.
When choosing a Bitcoin mining company, choose one that’s energy efficient to maximize your returns. If you’re looking for such a company, Iris Energy may be the firm you’re looking for.
With roots in New South Wales and facilities reaching into British Columbia and Texas, Iris Energy has been a household name in sustainable high-performance mining. The company powers its operations with 100% renewable energy, which is a rare find in the Bitcoin mining industry. It has recently invested heavily in next-gen facilities, with setups that can handle over 70kW per rack.
This capacity is leagues beyond the typical 15kW you’d see in older data centers. It allows it to run Bitcoin mining and other power-dense applications, including advanced GPUs like NVIDIA H100s.
The company’s collaborations with local players and energy firms ensure a stable and renewable power supply, keeping its operations sustainable and costs more predictable. Plus, by setting up in energy-rich regions, it positions itself to grow steadily and reliably.
If you’re looking to add a forward-thinking, eco-responsible company to your investment portfolio, Iris Energy can be a compelling choice.
Core Scientific
Core Scientific has always been a pioneer in the realm of Bitcoin and cryptocurrency mining, and it has solidified its position as a digital asset infrastructure provider.
There are numerous qualities that make Core Scientific stand out among Bitcoin mining companies. Among them are the company’s full range of services and capabilities. The company boasts a multi-faceted mining strategy consisting of crypto mining, server hosting, and, like us at QuoteColo, mining colocation.
So, hypothetically, if you wanted to mine anything from Bitcoin to even Matic without setting up an expensive facility or rig, Core Scientific has everything you need.
A key part of Core Scientific’s appeal is its focus on high-performance computing. Its mining facilities can handle the high energy and power demands of Bitcoin mining, giving the Austin-based mining firm a real edge.
But there’s more.
Core Scientific has diversified its revenue streams by branching into other blockchain technology solutions. As a result, the company’s model is more stable, which is welcoming news, especially when you’re averse to cryptocurrency price fluctuations.
Core Scientific’s approach makes it a wise choice if you’re looking for a company that supports a range of digital assets and keeps pace with blockchain advancements. Due to its tech-forward infrastructure and diversified services, it’s a reliable pick whether you’re a novice investor who’s on the fence or a seasoned one who knows a thing or two about Bitcoin investments.
Marathon Digital Holdings
Marathon Digital Holdings is based in Las Vegas and is one of the largest Bitcoin miners in the U.S. The company is quickly growing by buying other mining companies and signing low-cost energy deals.
As the company secures cheaper energy sources, Marathon’s mining costs are constantly on the lower end, which can boost profits even if Bitcoin prices dip. The company’s expansion across new markets offers greater potential for steady growth.
We can go on and on about this Bitcoin mining giant’s massive mining capabilities, sustainable energy solutions, and network of facilities in and out of the country. But what’s interesting about Marathon is its wide network of subsidiaries, each focused on a different part of the business.
These subsidiaries help Marathon manage many aspects of Bitcoin mining, from technology and leasing to securing patents and operating mining pools. A structure like this can be a good sign for any prospective investor. After all, having multiple subsidiaries allows Marathon to handle different parts of its operations separately.
With the network it has, it’s easier for the company (and your investments) to grow. This setup also helps Marathon respond to challenges faster since each area of the company can focus on specific needs without waiting for approval from the main office.
In short, unlike taking a chance on a slot machine, investing in Marathon Digital Holdings can be a gamble that pays off.
Terawulf
We’ve talked a lot about eco-friendly companies from which you can buy Bitcoin mining stocks, but when it comes to emissions-free mining, there’s no such thing as a complete list of Bitcoin mining companies without Terawulf.
Terawulf leads the industry in eco-friendly operations because it operates using 100% carbon-free energy. This is beneficial for two reasons.
This emissions-free approach lowers the Easton-based company’s carbon footprint and keeps operational costs in check. As a result, Terawulf is able to offer a more eco-friendly and low-cost way to mine Bitcoin, meaning high gas prices won’t cut into potential returns.
Of course, Terawulf wouldn’t have been successful in zero-emissions mining alone. This is why it partners with low-cost energy players. By working with other tech leaders and industry players, the company has optimized its mining operations to reduce costs.
As many experts would tell you, an investment-worthy company is not likely to be profitable on Bitcoin alone. Recognizing this, Terawulf is exploring other high-tech applications like artificial intelligence and high-performance computing. By diversifying into these areas, the company takes advantage of a broader digital infrastructure market. This could lead to new revenue streams and growth potential.
Yes, there’s that saying about not putting all your eggs in one basket — but if you have to, you can’t go wrong with Terawulf.
Cipher Mining
Let’s face it:
Getting into Bitcoin mining and investment can be daunting, and it’s because of the risks involved. Luckily, there’s one more company on the list that may be a solid choice if risk and volatility are what’s holding you back — Cipher Mining.
Cipher Mining Technologies has a solid business model that maximizes efficiency and scalability. As a result, it has been an attractive option for investors, and it may be a solid candidate for you, too.
First, let’s discuss its energy-efficient mining centers. Cipher Mining runs several state-of-the-art data centers in Texas, a region known for its affordable and reliable energy supply. By operating in a low-cost energy environment, Cipher Mining can keep its mining operations efficient and profitable even when Bitcoin prices fluctuate.
The company also manages its risks, mitigating risks related to Bitcoin price fluctuations, regulatory changes, and hardware obsolescence. Through diversification and careful planning, Cipher protects its long-term profitability, making it a safer bet for investors looking for stability in crypto.
CleanSpark
As “America’s Bitcoin Miner,” CleanSpark is committed to energy efficiency in every part of its mining process.
The company works to maximize output without adding energy consumption and fossil fuel reliance. Because CleanSpark’s approach is environmentally friendly and helps keep energy costs at bay, it deserves a spot in your portfolio if you don’t want energy prices to cut into your potential Bitcoin investment returns.
But CleanSpark isn’t just about Bitcoin. The company is big on diversification. The company is steadily exploring additional profitable projects, including Bitcoin ASIC miner hosting services for other miners and even blockchain tech development.
You’re also going to love CleanSpark’s commitment to transparency. As an investor, you can expect regular reports on energy use, carbon footprint, and mining performance to get a clear view of the company’s sustainability efforts.
Talk about keeping investors in the loop.
bitcoin mining hosting farm
Your Bitcoin Mining Investment Questions Answered
You likely have other questions besides which Bitcoin mining stocks and companies deserve a place in your portfolio. That’s where we at QuoteColo come in.
If you have Bitcoin investment questions, we have answers.
Here are some of the most commonly asked questions.
Which Crypto Mining Companies Offer Stock?
All of the companies in this list offer stocks for prospective investors. They are publicly traded on the NASDAQ and other stock market platforms and indexes like the TSX Venture Exchange.
Which ETFs Are Available?
Directly investing in a mining company and its stocks can be tricky as there’s a learning curve involved. Luckily, ETFs make investment accessible, so they have been popular options for investors looking to make it big in the Bitcoin and crypto space.
There are numerous ETFs you can invest in. Here are some of the most popular in the realm of Bitcoin and crypto:
- iShares Bitcoin Trust
- Invesco Galaxy Bitcoin ETF
- Bitwise Bitcoin ETF
- ProShares Bitcoin Strategy ETF
Besides being a relatively easy way to get into Bitcoin investing, many ETFs (including the ones mentioned) are regulated by the SEC. As a result, you can gain exposure to the Bitcoin market with minimal risks.
What Is the Best Bitcoin Mining Stock To Buy?
There’s no such thing as “the absolute best” Bitcoin mining stock to buy. When you’re choosing which company or stock to invest in, your decision should depend on several factors. These factors are:
- The company’s financial performance
- Mining efficiency (because high energy utilization is bad news for your potential gains)
- Overall market sentiment
The companies we’ve mentioned can be solid candidates due to their mining capabilities, market experience, and energy-efficient practices and operations.
To help you make the best decision on which company to invest in, we at QuoteColo also offer investment consultations.
Contact our team today and let our guidance help you get the most out of your Bitcoin investment.
Can I Invest in Bitcoin Mining?
Anyone can get into Bitcoin mining investing, and there are several ways to do it.
One way to invest in Bitcoin is to be a miner. To do this, you’ll need hardware like ASIC mining rigs and a location with low electricity costs. Running your own mining operation can be a lucrative venture, but it can cost you a lot upfront, especially with rising gas and hardware prices.
If you don’t want to mine, another option is to invest in a company. By buying Bitcoin mining stocks, you can make a profit without having to invest in expensive rigs. However, investment can be risky, so it’s best to do your research before going all in.
How Much Can You Earn From Bitcoin Mining?
How much you make from mining Bitcoin will depend on numerous factors, including:
- Hardware maintenance costs
- The cost of electricity in your area
- The price of Bitcoin
- “Halving” events
- Whether or not you’re in a mining pool
Mining Bitcoin can be lucrative, but doing so from your home can potentially reduce how much you make. For this reason, one solution may be to choose a managed colocation service that can host, maintain, and run your mining setup for you.
If not, there’s always the option of investing by buying Bitcoin mining stocks.
Which Mining Company Owns the Most Bitcoin?
Three companies have the lion’s share of Bitcoin in the market. They’re on our list, and they’re:
- Riot Platforms
- Hut 8 Mining
- Marathon Digital Holdings
These companies hold as much as 70% of the total Bitcoin circulating volume.
Invest Wisely — With Our Help
Investing can be difficult, especially when it comes to Bitcoin. Luckily, we can help.
More than a server colocation and mining solution, we’re also the go-to team for Bitcoin mining investment advice. Contact our team today to get an expert investment consultation.
