The last quarter of 2024 was a positive time for BTC miners, HC Venerate analysts say that with further potential instability.
Bitcoin miners saw a significant growth in the Q4 2024 as Bitcoin (BTC) first crossed $ 100,000, which was inspired by institutional adoption and optimism after Donald Trump’s Pro-Cripto’s presidential election victory, an HC Vener According to the analyst, he was speaking with Crypto.
BTC reached $ 106,144 in mid -December to close the quarter at around $ 93,400, leading to Q3 from 48%. Record-breaking ETF contributed to the price increase, strong income for miners.
Spot Bitcoin ETF attracted $ 16.7 billion in Q4, about four times the $ 4.3 billion recorded in Q3, helped to increase the average BTC price for the quarter by $ 83,432 – an increase of 36.7% from the previous quarter to 36.7% .
Analysts estimate that these trends will increase strong revenue growth and comprehensive profit margin in upcoming income reports of miners.
Bitcoin mining expansion
Notable expansion was observed in the mining sector, public miners added 46 achash per second to their operations, transported to the total capacity 235.8 eh/s. The global network hash rate increased an average of 738 EH/s in Q4, increased by Q3 to 17.3%. Q1 In early 2025, the hash continues to climb at the rate, reaching 833 EH/s by 2 February.
High BTC prices and increased mining activity increased the total BTC production by 16.4% quarter to 11,366 BTC, while the transaction fees rose 59.4% to 1,553 BTC. This increased the total minein revenue from 41% to $ 3.7 billion. The combined market cap of public miners rose by 21% to $ 28 billion, with AI-Linked Miners better than their peers.
Further, the first quarter of 2025 has started strong, the BTC average has reached approximately $ 100,000 and ETF flow to $ 5.7 billion. However, analysts have warned of potential instability due to the ongoing American trade stress with Canada, Mexico and China. Despite short -term uncertainty, they see as an opportunity to buy any weakness in BTC or miners.
