Odaily Daily News: H C. Wainwright analyst stated that in the fourth quarter of 2024, as Bitcoin first broke through $100000, miners' earnings significantly increased.
In that quarter, the spot Bitcoin ETF attracted $16.7 billion in capital inflows, almost four times the $4.3 billion in the third quarter, driving the average BTC price to $83432 that quarter, up 36.7% from the previous quarter.
Analysts predict that these trends will drive strong revenue growth and improved profit margins in the upcoming financial reports of mining companies. The mining industry has significantly expanded, with the operating volume of listed mining companies increasing by 46 EH/s, bringing the headquarters' capacity to 235.8 EH/s. The average global network hash rate in the fourth quarter was 738 EH/s, an increase of 17.3% compared to the third quarter. As of the beginning of the first quarter of 2025, the hash rate continued to climb and reached 833 EH/s on February 2nd.
The rise in BTC prices and increased mining activities have driven a 16.4% month on month increase in total BTC production to 11366 BTC, while transaction fees have surged 59.4% to 1553 BTC. This has driven a 41% increase in miners' total revenue to $3.7 billion. The total market value of listed mining companies increased by 21% to $28 billion, with mining companies related to artificial intelligence performing better than their peers.
Looking ahead, the first quarter of 2025 will have a strong start, with an average BTC price close to $100000 and ETF inflows reaching $5.7 billion. However, analysts warn that the market may experience volatility due to ongoing trade tensions between the United States and Canada, Mexico, and China. Despite the short-term uncertainty, they believe that any weak point in BTC or mining companies is a buying opportunity. （crypto.news）
