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On December 9th, it was reported that the Bitcoin halving event, scheduled for April next year, may trigger a survival battle among mining enterprises. To cope with this event, major companies are purchasing updated and more efficient mining machines. However, they may also consider merging with smaller mining companies, as mining enterprises are exploring ways to benefit from the halving while ensuring survival. According to hashrate calculations, Marathon Digital (MARA), the largest publicly traded mining company, announced this week that it has over 800 million US dollars in cash and Bitcoin. The company is seeking additional funding to capitalize on strategic opportunities, including industry consolidation, before the halving. Hut 8 (HUT) has just completed a full-stock merger with a privately-held U.S. Bitcoin company. CleanSpark (CLSK) has been accumulating cheap assets since the bear market began and has reserved nearly 170 million US dollars to leverage opportunities that may arise from the halving. Another institutional mining company, Riot Platforms (RIOT), has recently ordered 66,560 new mining machines at a cost of 290.5 million US dollars to maintain a leading position in the competition. |
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Post time 13-12-2023 12:41:34