This story was originally published here.
Bitcoin (CCC:BTC) rallied in 2020 as it nearly quadrupled in price from $8,000 in January 2020 to above $31,000 in late December. It reached a new all-time high above $34,000 in 2021. An indirect way to gain from this price appreciation is to consider crypto mining stocks to buy.
Here is simple explanation of the mining process from Sectigostore.com:
“The term crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain.”
Crypto mining is a complicated process. It requires a lot of capital expenditures in technology equipment. And, it has significant expenses in terms of electricity and even cooling equipment for a large number of computers used.
The crypto mining business is risky but can be promising and profitable if bitcoin appreciates in the future. Research on global cryptocurrency mining market by Industry Research is optimistic about the growth of this market in the next five to six years.
“The global Cryptocurrency Mining market size is projected to reach US$ 2584.6 million by 2026, from US$ 1015.9 million in 2020, at a CAGR of 16.8% during 2021-2026.”
Meanwhile, a report by Technavio projects growth of $2.8 billion in the mining hardware market from 2020 through 2024.
With growth expected both for the cryptocurrency mining and its hardware, cryptocurrency mining stocks are worth considering. For investors interested in positions related to bitcoin, here are four crypto mining stocks to buy… Story continues here.
[BUY ALERT] Details on Four Altcoins With 10X Potential
I’ll keep this brief…
My new business partner and I have just found four altcoins that are poised for a major breakout.
We’re predicting these four altcoins will blow past the coveted 1,000% over the next 12 to 24 months.
And it’s all thanks to a massive technology upgrade called “The Awakening.”
Virtually every major corporation and government agency is investing billions to prepare for this Awakening.
I’m talking about Apple, Microsoft, Google, Amazon, Facebook, and the departments of Defense and Homeland Security, to name a few.
We’ve located four small altcoins that we predict will be the biggest winners from this technology upgrade.
And if you take a small stake right now, you may never have to worry about money again.
If you want to learn more about the Awakening and details on the four altcoins that could absolutely soar because of it…
Talk to you soon,
Senior Investment Strategist, InvestorPlace
P.S. If you watch the video all the way to the end, you’ll receive the name and ticker symbol to our favorite altcoin for free. Watch this recording while you still can.