H.C. Wainwright & Co. has released an update on Bitcoin mining in the third quarter of 2024. The report shows that Bitcoin prices were volatile during this period due to concerns about the U.S. economy, international tensions, and the upcoming presidential election. However, BTC prices rebounded following the Federal Reserve's decision to cut interest rates, reaching around $63,250 by the end of the quarter. The report highlights the significant demand for U.S.-based spot Bitcoin ETFs, which saw net inflows of $4.3 billion during Q3. Despite the expansion of public Bitcoin miners, they faced challenges due to the upcoming Bitcoin halving in April 2024, resulting in a 29% decline in miner revenues. However, analysts see potential buying opportunities in the sector as miner market capitalization has already rebounded by 12% in the current quarter.



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