Economy
Five Largest Crypto Mining Companies Market Cap Slumps $5.2bn in 2022
By Adedapo Adesanya
The tumultuous 2022 year for the crypto market did not spare crypto mining companies, which lost billions of dollars to the tune of $5.2 billion in their stock values.
According to data presented by BitcoinCasinos.com and sent to Business Post, the world’s five largest crypto mining companies have collectively lost $5.2 billion in market cap year-over-year.
Known as the crypto winter, trading volume slumped, and crypto prices drowned in the aftermath of one of the most brutal years for the crypto industry.
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 per cent last year, deep below the S&P 500’s total return of -19.44 per cent.
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 $8.5 billion in January last year. Over the past twelve months, this value slumped by 61 per cent to below $3.3bn.
The world`s largest crypto miner, Riot Blockchain, has lost 57 per cent or around $1.3 billion of its stock value year-over-year. Still, that was 11 per cent 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 $3 billion, and now it`s less than $980 million.
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 46 per cent year-over-year, with the company losing around $450 million in stock value.
On the other hand, New York-based Cipher Mining Technologies saw the biggest drop, with its stock value slumping by 67 per cent year-over-year and $565 million being wiped off its market cap. Hut 8 Mining stands close, with a 65 per cent year-over-year drop to $480.7 million.
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.
In January 2022, the miners’ 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.
Although this figure rose to $15.7 million as of last week, this still represents a massive 61 per cent drop year-over-year.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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