According to Wu, bitcoin mining companies evaluated each other at the Bitcoin 2024 conference last week. Bitwise research director Ryan Rasmussen expects consolidation in the bitcoin mining industry in the next 18 months. Some well-capitalized miners want to swallow up their competitors.
Brokerage firm Benchmark has pointed to Bitcoin miner Bitdeer as a potential acquisition target. Bitdeer CSO Haris Basit said a hostile takeover is unlikely, but acquisitions are a way to increase the company's value. Bitdeer is also devoting some of its production capacity to AI and high-performance computing, and entering the ASIC industry.
Marathon Digital is more interested in acquiring BTC. Jayson Browder, senior vice president of government affairs, said that the company is focused on its own operations, and the company reserves 20,000 BTC, worth more than $1.3 billion.
