With cryptocurrency prices skyrocketing over 10x since 2020, a host of mining companies, including PrimeBlock, Core Scientific, BitFuFu, Bitdeer, Griid, and Cipher Mining, have either announced or made their public market debuts through SPAC mergers.
Surging crypto prices, combined with a shortage of ASIC miners (cryptocurrency mining equipment), meant that investors chose to pursue publicly traded mining stocks as an alternative to pursuing the profitable opportunity.
However, several factors could dampen the interest in crypto mining companies going forward, including fears of extended crypto winter, heightened regulatory scrutiny regarding mining practices, and deteriorating sales & margins.
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