Bitcoin miners take varied paths post-revenue ‘halving’

Quick Summary:

SIX months after rewards for validating transactions on the Bitcoin network were reduced by half, crypto mining companies are choosing between two divergent paths to remain viable.

While the shares of the majority of the companies have underperformed Bitcoin’s more than 60 percent rally this year with future mining revenue constrained, traders appear to be voting which strategy will succeed, with those embracing AI posing the largest gains.

With Bitcoin rising again in the wake of the 2022 market collapse, miners have resumed borrowing, as well as issuing more shares.

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Article Details

Author / Journalist: Bloomberg News

Category: BusinessStartups

Markets: PhilippinesHong Kong

Topics: Mining Data Mara Companies Strategy Market Bitcoin Industry Percent Shares Miners

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-20 @ 12:50:43 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 754 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23135841

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 52 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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