On October 8th, Matrixport released a chart saying that since the halving in April 2024, the daily income of bitcoin mining has dropped sharply from $70 million to $31 million. However, mining stocks have performed relatively well. Although slightly worse than bitcoin, the overall performance has been better than expected.
Mining stocks are poised to rebound as earnings bottom out. Mining companies have eased the selling pressure by holding bitcoin inventory and selling less on exchanges. This strategy not only provides shareholders with bitcoin operating leverage, but also increases inventory leverage. MicroStrategy shareholders have reaped rich rewards with a similar strategy.
Matrixport: After Bitcoin's halving, earnings have stabilized, and mining stocks are expected to rebound
2024-10-08 07:10:24
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