JPMorgan: Crypto Miners Are Adopting the Same Bitcoin Buying Strategy as MicroStrategy

JPMorgan said in the report that MicroStrategy is not the only large corporate Bitcoin buyer, and crypto miners have also begun to adopt a hoarding strategy. The shift is due to increased profitability pressure, mainly due to the halving of Bitcoin mining rewards in April and the increase in network hash rate. Analysts said: "This may prompt miners to hoard Bitcoin or seek further investment in Bitcoin, or turn to artificial intelligence/high-performance computing (AI/HPC) businesses. Miners like MARA Holdings have adopted a Bitcoin buying strategy similar to MicroStrategy in response to these challenges." (CoinDesk)