BTC miners in 2024 reached a milestone with a market cap of 50 billion USD. Key players adopted a treasury strategy, holding onto more of their mined Bitcoin, inspired by companies like MicroStrategy. This move was often enhanced by using borrowed funds to purchase more BTC, reflecting a significant shift in their financial strategies.
Miners began diversifying into sectors like AI and HIGH-performance computing. Companies like MARA Holdings and Riot Platforms invested in these areas, seeking stable revenue flows. For instance, HIVE Digital repurposed Nvidia GPUs to generate more revenue than traditional crypto mining. This trend illustrates miners’ adaptation to volatile market conditions and pursuit of diversified income streams.
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