JP Morgan: Crypto miners are adopting the same Bitcoin buying strategy as MicroStrategy
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2024-12-13 19:03 175
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Golden Finance reported that JPMorgan stated in a report that MicroStrategy is not the only large corporate buyer of Bitcoin, and crypto mining companies have also begun to adopt hoarding strategies.
The shift is due to increased pressure on profitability, stemming primarily from the Bitcoin mining reward halving in April and rising network hash rates.
The report goes on to say that this could prompt miners to hoard Bitcoin or seek further investment in Bitcoin, or move into artificial intelligence/high-performance computing (AI/HPC) businesses, analysts led by Nikolaos Panigirtzoglou wrote.
Miners like MARA Holdings have adopted a Bitcoin buying strategy similar to MicroStrategy’s in response to these challenges. (CoinDesk)