Kaiko: Crypto mining companies may be forced to continue selling Bitcoin holdings and seek industry consolidation
Odaily2024/07/02 14:24
By:Odaily
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Odaily News According to a report from Kaiko Research, lower network fees and reduced Bitcoin mining rewards have increased the risk that miners will be forced to sell their Bitcoin holdings. Previous halving events have put miners under pressure to reduce revenue, with mining profits falling while expenses such as energy, wages and rent remain largely unchanged, and reduced network fees have further reduced revenue. Data shows that the average Bitcoin network fee has fallen from around $45 in January to between $3 and $5. Marathon Digital, one of the leading Bitcoin miners, sold 390 BTC in May and plans to sell more holdings to manage its finances. According to Kaiko, the risk of miners being forced to
sell Bitcoin may continue in the coming months. The company also said that the revenue crunch will lead miners to seek mergers to consolidate assets and improve efficiency. As the impact of the halving reverberates across the industry, consolidation is expected to continue. For example, Riot Platforms Inc. has attempted to acquire Bitfarms Ltd.; in addition, CleanSpark Inc. agreed last month to acquire Griid Infrastructure Inc. in an all-stock transaction worth $155 million. (Bloomberg)
0
0
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.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
[Initial listing] Bitget to list Kiichain (KII)
Bitget Announcement•2026/08/14 07:00
New data display features added to the futures elite trader homepage
Bitget Announcement•2026/08/12 10:55
CFD profit share feature upgraded for safer earnings
Bitget Announcement•2026/08/12 10:45
New stock categories added to the market selection pop-up in the elite trade section
Bitget Announcement•2026/08/12 10:44
Crypto prices
MoreBitcoin
BTC
$63,005.91
+0.64%
Ethereum
ETH
$1,882.4
+0.68%
Tether USDt
USDT
$0.9989
+0.01%
USDC
USDC
$0.9999
-0.00%
XRP
XRP
$1
+0.17%
Solana
SOL
$75.39
+0.06%
TRON
TRX
$0.3310
-0.60%
Hyperliquid
HYPE
$56.3
+0.39%
Dogecoin
DOGE
$0.06998
+1.06%
Zcash
ZEC
$489.85
+1.33%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now