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The main reason investors put their money into public crypto mining equities is because they act as a proxy for investing in bitcoin, given that many institutional investors remain hesitant to invest directly in cryptocurrencies due to regulatory concerns. Theoretically, by investing in mining equities that hold onto their mined bitcoin, investors are gaining a way to profit on the mined currency at a lower cost than its market price, while owning a real business. At the same time, shares of the public miners are easy for these traditional investors to buy or sell. No need to set up a fancy bitcoin wallet or open an account with some online exchange or specialized market maker; just call your stockbroker as usual.
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