{"id":5223,"date":"2023-01-22T17:56:48","date_gmt":"2023-01-22T17:56:48","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=5223"},"modified":"2023-01-22T18:14:06","modified_gmt":"2023-01-22T18:14:06","slug":"market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/","title":{"rendered":"Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year"},"content":{"rendered":"<p>2022 was a challenging year for the crypto market, as trading volume slumped and crypto prices drowned in the aftermath of crypto winter. But one of the most brutal years for the crypto industry has also had a huge impact on the crypto mining companies, which lost billions of dollars in their stock values.<\/p>\n<p>According to data presented by <a href=\"https:\/\/www.bitcoincasinos.com\/\">Bitcoin Casinos<\/a>, the world`s five largest crypto mining companies have collectively lost $5.2bn in market cap year-over-year.<\/p>\n<h3><strong>Stock Values More than Halved Amid Crypto Winter<\/strong><\/h3>\n<p>Crypto mining stocks, represented by the Amplify Transformational Data Sharing ETF (BLOK), dramatically underperformed the broader market last year. According to Yahoo Finance, BLOK provided a total return of -54.3% last year, deep below the S&amp;P 500\u2019s total return of -19.44%.<\/p>\n<p>The melting stock prices of crypto mining companies led to colossal market cap drops. The Ycharts data showed the combined market cap of Riot Blockchain, Marathon Digital Holdings, Canaan Inc., Cipher Mining Technologies, and Hut 8 Mining, the world`s five largest crypto mining companies, amounted to over $8.5bn in January last year. Over the past twelve months, this value slumped by 61% to below $3.3bn.<\/p>\n<p><script id=\"infogram_0_912ae56d-629f-4942-88ab-2487c63cd042\" title=\"Crypto mining companies market cap\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?jhk\" type=\"text\/javascript\"><\/script><\/p>\n<p>The world`s largest crypto miner, Riot Blockchain, has lost 57% or around $1.3bn of its stock value year-over-year. Still, that was 11% less than Marathon Digital Holdings, the second-largest company in the market. In January 2022, the stock value of the Las Vegas-based crypto mining company stood at close to $3bn, and now it`s less than $980 million.<\/p>\n<p>Although all five crypto mining companies suffered a double-digit market cap drop, Chinese Canaa Inc. saw the least damage. Statistics show that Canaan`s market cap dropped by \u201eonly\u201c 46% year-over-year, with the company losing around $450 million in stock value.<\/p>\n<p>On the other hand, New York-based Cipher Mining Technologies saw the biggest drop, with its stock value slumping by 67% year-over-year and $565 million being wiped off its market cap. Hut 8 Mining stands close, with a 65% YoY drop to $480.7 million.<\/p>\n<h3><strong>Daily Crypto Mining Revenue Plunged by 61% YoY<\/strong><\/h3>\n<p>Besides its biggest players losing billions of dollars in stock value, the crypto mining industry has also witnessed a considerable drop in crypto mining revenues.<\/p>\n<p>In January 2022, the miners\u2019 average daily revenue amounted to $41.1 million, revealed the Blockchain data. By June, this figure nearly halved to $27.9 million, reflecting the Bitcoin price drop. However, July saw only $18.2 million in daily mining revenues, which continued floating around this value in the following months before falling to 2022`s low of $15.5 million in December.<\/p>\n<p>Although this figure rose to $15.7 million as of last week, this still represents a massive 61% drop year-over-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022 was a challenging year for the crypto market, as trading volume slumped and crypto prices drowned in the aftermath of crypto winter. But one of the most brutal years for the crypto industry has also had a huge impact on the crypto mining companies, which lost billions of dollars in their stock values. According &hellip; <\/p>\n","protected":false},"author":69,"featured_media":5225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[529],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year - Bitcoin Casinos<\/title>\n<meta name=\"description\" content=\"2022 was a challenging year for the crypto market, as trading volume slumped and crypto prices drowned in the aftermath of crypto winter. But one of the most brutal years for the crypto industry has also had a huge impact on the crypto mining companies, which lost billions of dollars in their stock values. According &hellip;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year - Bitcoin Casinos\" \/>\n<meta property=\"og:description\" content=\"2022 was a challenging year for the crypto market, as trading volume slumped and crypto prices drowned in the aftermath of crypto winter. But one of the most brutal years for the crypto industry has also had a huge impact on the crypto mining companies, which lost billions of dollars in their stock values. According &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Bitcoin Casinos\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-22T17:56:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-22T18:14:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bitcoincasinos.com\/wp-content\/uploads\/2023\/01\/Crypto_cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1035\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jastra Kranjec\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jastra Kranjec\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[[],{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/\",\"url\":\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/\",\"name\":\"Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year - Bitcoin Casinos\",\"isPartOf\":{\"@id\":\"https:\/\/www.bitcoincasinos.com\/#website\"},\"datePublished\":\"2023-01-22T17:56:48+00:00\",\"dateModified\":\"2023-01-22T18:14:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/01\/22\/market-cap-of-five-largest-crypto-mining-companies-slumped-by-5-2b-year-over-year\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.bitcoincasinos.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bitcoincasinos.com\/#website\",\"url\":\"https:\/\/www.bitcoincasinos.com\/\",\"name\":\"Bitcoin Casinos\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.bitcoincasinos.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bitcoincasinos.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.bitcoincasinos.com\/#organization\",\"name\":\"Bitcoin Casinos\",\"url\":\"https:\/\/www.bitcoincasinos.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bitcoincasinos.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.bitcoincasinos.com\/wp-content\/uploads\/2023\/01\/bitcoincasinos-logo-orange.svg\",\"contentUrl\":\"https:\/\/www.bitcoincasinos.com\/wp-content\/uploads\/2023\/01\/bitcoincasinos-logo-orange.svg\",\"width\":201,\"height\":38,\"caption\":\"Bitcoin Casinos\"},\"image\":{\"@id\":\"https:\/\/www.bitcoincasinos.com\/#\/schema\/logo\/image\/\"}},[]]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Market Cap of Five Largest Crypto Mining Companies Slumped by $5.2B Year-over-Year - Bitcoin Casinos","description":"2022 was a challenging year for the crypto market, as trading volume slumped and crypto prices drowned in the aftermath of crypto winter. 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