TechFlow news, November 29 — According to Cointelegraph, data from TheMinerMag shows that publicly listed mining companies have invested a total of $3.6 billion in property, plant, and equipment (PP&E) so far in 2024, with capital expenditures in the third quarter reaching their highest level since Q1 2022. Sixteen mining firms have raised over $5 billion, spending $2 billion on hardware upgrades since 2023.
Recently, multiple mining companies have increased investments. Bitfarms signed a hosting agreement with Stronghold to deploy 10,000 additional Bitcoin miners in Pennsylvania. CleanSpark plans to build 400 megawatts of mining infrastructure, while Hive Digital has purchased 6,500 ASIC miners for its new facility in Paraguay.
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