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BitcoinSistemi 2024-12-25 12:18:16

2024 Is The Year Of Cryptocurrency Companies! Here Are The Best And Worst Performing Crypto Stocks Of 2024!

The year 2024 has been a turning point for the cryptocurrency market, characterized by major milestones such as the launch of spot Bitcoin ETFs, the Bitcoin halving in April, and the unexpected support of President-elect Donald Trump. Best and Worst Performing Crypto Stocks of 2024: MicroStrategy and Core Scientific Lead the Gains These developments have fueled optimism and volatility in crypto markets and have significantly impacted crypto-related stocks. While some companies have thrived by leveraging market momentum and strategic moves, others have faced operational challenges and falling stock prices. Here’s a detailed look at the best and worst performing crypto stocks of 2024. Top Performers MicroStrategy (MSTR) Earnings: +402% Market Value: $83 billion MicroStrategy has continued its aggressive Bitcoin buying strategy, becoming the largest institutional holder of the cryptocurrency. As of year-end, the company held approximately 440,000 Bitcoins worth over $40 billion. Core Scientific (CORZ) Earnings: +307% Market Value: $3.9 billion Bitcoin mining firm signs 12-year contract with AI hyperscaler CoreWeave, ensuring post-injury resilience and positioning itself as a leader in the industry Terawulf (WULF) Earnings: +142% Market Value: $2.15 billion Terawulf reported strengthening its infrastructure-focused operations with a 100% year-over-year increase in its self-mining hashrate capacity of 10.0 EH/s. Hut 8 (HUT) Earnings: +75% Market Value: $2.06 billion Hut 8 has received positive ratings from analysts, who cite its significant power capacity and mining infrastructure as competitive advantages. Bitdeer Technologies (BTDR) Earnings: +122% Market Value: $2.75 billion Bitdeer has stepped up its own Bitcoin mining operations by developing its vertical integration strategy. Coinbase (COIN) Earnings: +69% Market Value: $66.5 billion Coinbase launched a $1 billion stock buyback program and reported strong trading volumes, solidifying its position as a leading crypto exchange. Worst Performers Argo Blockchain (ARBK) Loss: -80% Market Value: $44 million The London-based miner has struggled with operational challenges and regulatory headwinds, including a dilutive share issuance. Gryphon Digital Mining (GRYP) Loss: -92% Market Value: $23 million Gryphon reported a sharp decline in revenue and faced mounting losses, making it the worst-performing company of the year among crypto-related stocks. Greenidge Generation (GREE) Loss: -74% Market Value: $25 million The company faced regulatory challenges due to its facility in New York state but managed to avoid closure after a protracted legal battle. Bitfarms (BITF) Loss: -43% Market Value: $917 million Bitfarms has been embroiled in a takeover dispute with Riot Platforms, affecting investor confidence and stock performance. Hive Digital (HIVE) Loss: -32% Market Value: $522 million The mining company improved its net loss from the previous year but suffered a decline in revenues and failed to capitalise on market opportunities. Broader Market Context Bitcoin’s price is up nearly 120% in 2024, while the S&P 500 has gained 25%. Crypto-adjacent stocks like Robinhood (+203%) and Block (+24%) have benefited from the broader rally. *This is not investment advice. Continue Reading: 2024 Is The Year Of Cryptocurrency Companies! Here Are The Best And Worst Performing Crypto Stocks Of 2024!

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