The upcoming Bitcoin (BTC) halving and the recent market rebound from the 2022 bottom seem to have bolstered mining companies’ capital expenditure, according to the latest Miner Weekly report by BlocksBridge Consulting.
According to TheMinerMag data, a dozen public mining companies have made purchase orders for spot and future stocks of bitcoin mining machines totaling over 70 EH/s this year. These commitments amount to more than $1.2 billion year-to-date, with $750 million signed in the past two months.
Chinese manufacturers MicroBT and Bitmain account for the majority of the investment, with Canaan accounting for the rest.
Public mining companies have also spent $747 million in the first three quarters of this year on property, plants, and equipment, with Chinese miner manufacturers being the biggest winners from these purchase deals.
