{"id":50882,"date":"2021-10-08T14:02:33","date_gmt":"2021-10-08T11:02:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50882"},"modified":"2025-09-02T20:41:19","modified_gmt":"2025-09-02T17:41:19","slug":"us-listed-mining-companies-hold-1-1-billion-in-bitcoin-on-their-balance-sheets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-listed-mining-companies-hold-1-1-billion-in-bitcoin-on-their-balance-sheets\/","title":{"rendered":"US-listed mining companies hold $1.1 billion in Bitcoin on their balance sheets"},"content":{"rendered":"

US-listed mining companies hold more than 20,459 BTC (~$1.13 billion) as a reserve asset. Analysts at The Block<\/a> estimate this.<\/p>\n

The estimates are based on current production indicators from Riot Blockchain, Marathon Digital Holdings, Argo Blockchain, Bitfarms, CleanSpark, Hut 8 Mining, HIVE Blockchain and Greenidge Generation.<\/p>\n

Together, these firms accounted for 7.5% of all bitcoins mined in Q3 (6,463 BTC). In July\u2013September, the figure rose by 82% from April\u2013June. The drivers were crackdown by Chinese authorities<\/a> and the increase in the companies’ hash rate.<\/p>\n

The data do not include BIT Digital’s statistics, which have yet to report Q3 results.<\/p>\n

\n
\"US-listed
Data: The Block.<\/figcaption><\/figure>\n<\/div>\n

The 20,459 BTC on the companies’ balance sheets also include Marathon Digital’s acquisition of 4,812 BTC on the market in January<\/a>.<\/p>\n

\n
\"US-listed
Data: The Block.<\/figcaption><\/figure>\n<\/div>\n

Bitcoin as a reserve asset can provide firms with liquidity to cover operating expenses, acquire new equipment, and build the necessary infrastructure.<\/p>\n

Argo Blockchain used<\/a> the digital gold as collateral for a $25 million loan from Galaxy Digital. Similarly, Marathon Digital Holdings did<\/a> the same, which agreed with Silvergate Bank to open a $100 million revolving credit facility.<\/p>\n

Earlier, Hut 8 raised<\/a> $11.8 million from Foundry, pledging mined cryptocurrency as collateral.<\/p>\n

The combined bitcoin-miners’ revenue last month reached $1.308 billion, down 3.8% from August.<\/p>\n

For September developments in the industry, see our report<\/a>.<\/p>\n

Follow ForkLog on Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

US-listed mining companies hold more than 20,459 BTC (~$1.13 billion) as a reserve asset. Analysts at The Block estimate this.<\/p>\n","protected":false},"author":1,"featured_media":50883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137,1211,26],"class_list":["post-50882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50882"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50882\/revisions"}],"predecessor-version":[{"id":50884,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50882\/revisions\/50884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50883"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}