Report: In 2024, many listed Bitcoin mining companies will increase their holdings of BTC and develop AI businesses to further expand their treasury strategies

Golden Finance reported that according to a report released by Nice Hash and Digital Mining Solutions on January 7, listed Bitcoin mining companies have followed MicroStrategy’s footsteps and increased their Bitcoin treasury holdings. The report states: “Bitcoin miners saw a notable shift in 2024, with several companies choosing to retain more of their Bitcoin output or not sell it at all.” Miners may not sell Bitcoin for a variety of reasons, These include expectations of further appreciation in BTC prices or strengthening of their balance sheets, as well as use as a hedge against currency depreciation. MARA Holdings, Riot Platforms, and Hut 8 used borrowed funds to increase their Bitcoin holdings, further expanding their treasury strategies. Four of the 16 largest Bitcoin holders are mining companies. In addition to the core mining business, by 2024, some mining companies will "further diversify into high-performance computing and artificial intelligence to generate predictable revenue streams to buffer mining fluctuations," the report said.