The rapid evolution of bitcoin mining from a niche hobby to a major corporate enterprise has introduced what some are calling the "public mining effect."

Roundtable anchor Rob Nelson discussed this phenomenon with Robert Samuels, Vice President of Investor Relations at Marathon Digital Holdings (MARA), highlighting how publicly traded mining companies are adding a layer of legitimacy to the cryptocurrency space.

"I think we're all still figuring out, trying to find our ways," said Robert Samuels. "This industry is still incredibly young." Marathon has been focused on running its business efficiently, announcing earnings and acquisitions that expand their capacity. "We announced an acquisition of roughly 370 megawatts on Monday," he noted, emphasizing the company's ongoing growth strategy.

Nelson pointed out that the existence of large, publicly traded bitcoin mining companies is still surprising to many. "When I tell people there's big, publicly traded bitcoin mining companies, they're like, what? It's like this legitimacy effect," he remarked. The transformation signifies not just maturity but also broader acceptance of cryptocurrency operations in traditional financial markets.

Samuels agreed, sharing his personal experiences. "When I tell people that I work for a miner, they think I go to work with a pick and axe every single day," he said. This misconception underscores the need for continued education about bitcoin and the companies involved in its mining. "There's definitely still teaching... in terms of not just bitcoin, but companies like Marathon and what we do from the mining side and just how big we are," he added.

Marathon's global presence is a testament to the industry's expansion. "We've got 15, 16 sites, not just in the U.S. but spread out overseas too," Samuels shared. From mining in Paraguay to heating a town of 11,000 residents in Finland, the company's diverse operations reflect the growing impact of bitcoin mining worldwide. "When they start to hear what we're doing and about bitcoin, I think the interest is just—there's always this wow factor and I want to learn and hear more," he concluded.

As interest rates continue to fall, analysts are hopeful bitcoin miners can enjoy a strong year-end bid. Fundstrat's Head of Digital Asset Strategy Sean Farrell predicted the basket of miners could begin to catch a bid off of MicroStrategy's bitcoin purchases .