Matrixport: Mining Stocks May Rally as Bitcoin Earnings Stabilize After Halving
On October 8, Matrixport released a chart stating that since the April 2024 halving, daily earnings from Bitcoin mining have plummeted from $70 million to $31 million. However, mining stocks have been relatively solid, slightly underperforming Bitcoin but outperforming overall. As earnings gradually bottom out, mining stocks may be poised for a rebound. Many mining companies have chosen to hold bitcoin inventory and reduce selling on exchanges, thus easing the market sell-off. This strategy not only provides shareholders with bitcoin operating leverage, but also increases inventory leverage.MicroStrategy shareholders have been handsomely rewarded with a similar strategy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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