CandleFocus Post halving, Bitcoin miners are choosing between hodling BTC and upgrading to AI
2024-10-20
Author: Content Editor
After the Bitcoin halving in April, Bitcoin miners are adopting two main strategies: either hodling the BTC they mine or investing in artificial intelligence (AI). Public miners like MARA Holdings, Riot Platforms, and CleanSpark are choosing to hold onto the BTC they mine in the hopes that its value will increase over time. On the other hand, mining stock traders are increasingly investing in AI, with stocks of Core Scientific seeing significant gains since partnering with AI startup CoreWeave. While miners who hold BTC have seen drops in their stock prices, those investing in AI have been faring better. However, experts warn that holding BTC may only be effective if its price continues to rise, as a decline in price could lead to negative profits for miners.
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