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Posted By admin  On 26.03.21

As the price of bitcoin shoots past new highs since the start of the year, the prospect of so-called bitcoin mining becomes more and more alluring. Not surprisingly, companies that provide bitcoin mining-related hardware, such as high-power graphics cards, are profiting from the bitcoin mining boom. Fortunately for investors, some of these companies are publicly traded on the stock exchange.

What Is Bitcoin Mining?

The Grayscale Bitcoin Trust is a digital currency investment product that individual investors can buy and sell in their own brokerage accounts. Bitcoin Stock Symbol. The most common way that you’ll see bitcoin listed on exchanges is BTC. Any broker which deals in Forex will likely also deal in BTC. You may also see it listed as XBT. Bitcoin is a hugely volatile commodity (or currency), and some brokers will refuse to have any part of it.

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Mining bitcoin refers to the generation of new bitcoin by bitcoin network participants who use their computational power to verify and process transactions on the bitcoin blockchain. By ensuring that the network is running smoothly and all correct transactions are being processed, bitcoin miners are financially rewarded with fresh bitcoin.

Currently, the bitcoin block reward is 12.5, which means that miners receive 12.5 bitcoins for every new block mined on the blockchain. A new block is created roughly every 10 minutes, contains several confirmed transactions, and will have had several miners involved in the process. Hence, the 12.5 new bitcoins will be split among the miners involved in the creation of the block. That means miners are in competition with each other to confirm more and more transactions to get a bigger piece of the bitcoin mining rewards.

Therefore, there is somewhat of a hardware arms race among bitcoin mining operations as they continuously try to increase the speed and efficiency of their mining rigs. One way of doing that is by investing in the newest and most powerful graphics cards that can be used to boost mining efficiency.

Top Bitcoin and Crypto Mining Stocks

There are a number of publicly-traded companies that are involved in crypto mining, either through the production of mining graphics cards or by operating mining farms. Below, you will discover a list of the most prominent ones.

AMD Micro Devices (NASDAQ: AMD)

Advanced Micro Devices Inc. is a California-based company that develops computer processors and primarily focuses its GPU products on the gaming community. However, some of its GPUs can also be used to improve the efficiency of bitcoin mining rigs. This has been very beneficial for the company as the bitcoin mining boom has boosted the demand for its graphics cards.

Additionally, AMD has decided to pursue the crypto mining market further by producing a set of specialized hardware solutions targeted at digital currency miners.

AMD is listed on the Nasdaq exchange and has a market capitalization of $34 billion. Its shares are currently trading at $31.50.

Hive Blockchain Technologies (TSXV:HIVE)

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Hive Blockchain Technologies is a Canadian digital currency mining company that was launched in 2017 as a partnership between Foire Group and leading cloud mining services provider, Genesis Mining. The Vancouver-based company runs mining operations in Iceland, Norway, and Sweden and went public in September 2017 on the Toronto Stock Exchange.

Hive Blockchain has a market capitalization of C$ 152 million and its shares are currently trading at C$0.485.

Hut 8 Mining (CVE: HUT)

Hut 8 Mining is another Toronto Stock Exchange-listed stock that provides equity investors with exposure to the digital currency mining sector. Toronto-based Hut 8 was launched in partnership with Bitfury Group and focuses its business operations on mining and blockchain infrastructure. The company went public in March 2018 and runs its mining farms in Canada.

Hut 8 Mining has a market capitalization of C$222 million and its shares are currently worth C$2.46.

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Northern Bitcoin (ETR: NB2)

Northern Bitcoin is a German bitcoin mining company that leverages renewable energy to mine digital currencies. The Frankfurt-based technology company went public in 2015 and is one of the few blockchain stocks denominated in euros.

Northern Bitcoin has a market capitalization of €123 million and its share price currently trades at €16.60.

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Riot Blockchain (NASDAQ: RIOT)

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Colorado-based Riot Blockchain “focuses on building, supporting and operating blockchain technologies” and digital currency mining. The company has investments in a number of blockchain startups, such as Canadian bitcoin exchange Coinsquare, and runs a crypto mining operation in Oklahoma City.

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Nasdaq-listed Riot Blockchain has a market capitalization of $44.7 million and its shares are trading at $2.80.

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