Bitcoin Surges 113% in 2024: A Year of Adaptation for Mining Companies Amid Stock Price Declines

In the latest market update, Bitcoin’s impressive **113% surge** in 2024 has raised questions about the **financial viability** of publicly traded mining companies. According to data from the **Hashrate Index** and Google Finance, these firms witnessed a staggering decline in stock prices, with some plummeting by up to **84%** by the end of the year. Among the 25 companies tracked, a mere **7** demonstrated positive returns, signifying a challenging landscape.

Noteworthy performers include **Core Scientific (CORZQ)**, which soared by **327%**, and **Bitdeer (BTDR)**, enjoying a remarkable **167%** increase. Meanwhile, **Hut 8 (HUT)** and **TeraWulf (WULF)** also marked significant gains, yet several firms, such as **Argo Blockchain (ARB)** and **Sphere 3D (ANY)**, faced significant losses, highlighting the sector’s volatility. Overall, 2024 has proven to be a pivotal year for Bitcoin mining, as companies navigate reduced rewards and escalating operational costs while striving to identify new revenue avenues.