JP Morgan "Mining Companies Using MicroStrategy's BTC Accumulation Strategy"
Son Min
Summary
- According to JP Morgan, cryptocurrency mining companies are using MicroStrategy's BTC accumulation strategy.
- Marathon Digital currently holds 35,000 BTC, showing that mining companies are actively accumulating Bitcoin.
- Mining companies have raised a total of over $10 billion this year by issuing bonds and stocks instead of selling held cryptocurrencies to cover operating costs.
An analysis has emerged that cryptocurrency mining companies are using MicroStrategy's strategy.
According to CoinDesk on the 12th (local time), JP Morgan stated in a report, "MicroStrategy is not the only major company accumulating Bitcoin," and "Cryptocurrency mining companies are also accumulating Bitcoin to increase profitability."
The report stated, "Marathon Digital currently holds 35,000 BTC (approximately $3.5 billion)," and "Mining companies are using bond and stock issuance instead of selling held cryptocurrencies to cover operating costs." It added, "Mining companies have raised more than $10 billion in capital this year alone."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit