JPMorgan reported on December 13 that MicroStrategy is not the only large corporate buyer of Bitcoin. Crypto mining companies have also started adopting hoarding strategies. This shift is due to increased pressure on profitability, mainly from the Bitcoin mining reward halving in April and the rising network hash rate.
Analysts led by Nikolaos Panigirtzoglou wrote in the report that this could prompt miners to hoard Bitcoin, invest further in Bitcoin, or move into artificial intelligence/high-performance computing (AI/HPC) businesses. Mining companies like MARA Holdings have adopted Bitcoin buying strategies similar to MicroStrategy’s in response to these challenges.
(CoinDesk)
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