Last week, Bitcoin mining companies evaluated each other at the Bitcoin 2024 conference. Bitwise research director Ryan Rasmussen expects consolidation in the Bitcoin mining industry over the next 18 months as certain well-capitalized miners look to swallow up competitors. In a recent research report, brokerage Benchmark identified technology-focused Bitcoin miner Bitdeer as a potential acquisition target. Bitdeer CSO Haris Basit said that the possibility of a hostile takeover is low because its capital structure makes it difficult for competitors to gain control, but also believes that acquisitions are a way for the company's management team to try to add value to the existing company. In addition, Bitdeer also uses some of its production capacity for AI and high-performance computing companies to generate revenue, and has entered the ASIC industry to produce chips specifically for Bitcoin mining. Marathon Digital is more interested in acquiring BTC. Jayson Browder, senior vice president of government affairs, said that it focuses on its own operations rather than evaluating competitors. The company has a reserve of 20,000 BTC, worth more than $1.3 billion. (Decrypt)