Bitcoin

Read

Following the halving, some Bitcoin miners are reshuffling operations to adjust to the new paradigm and one entity is considering all options.&nbsp; 
According to a <a href="https://ir.strongholddigitalmining.com/news-releases/news-release-details/stronghold-announces-first-quarter-2024-operating-and-financial" target="_blank" rel="">press statement</a>, Stronghold Digital Mining is exploring options to maximize shareholder value, including a complete sale of the company and its assets.&nbsp; 
The Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="">BTC</a>) miner uses leftover coal as an energy source for its Pennsylvania-based cryptocurrency mining facility. Per the May 2 announcement, Stronghold highlighted a disparity between its stock prices and valuations commanded by market competitors.&nbsp; 
Google Finance showed a 62% decline in Stronghold’s SDIG stock this year, although other Bitcoin miners like Riot and Marathon Digital have also recorded dwindling equity prices.&nbsp; 
After Stronghold disclosed its plan, SDIG jumped 7% in pre-market hours as the Bitcoin miner assessed available pathways. The firm reportedly engaged financial advisers Cohen and Company Capital Markets to this effect.&nbsp; 
<blockquote class="wp-block-quote"> 
 “Stronghold’s Board and management team are committed to maximizing value for our shareholders and, to that end, have commenced a comprehensive and thorough review of strategic alternatives.” <cite>Greg Beard, Stronghold CEO and Chairman</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/cryptoquant-ceo-sees-no-signs-of-bitcoin-miners-capitulation-for-now/" rel=""> CryptoQuant CEO sees no signs of Bitcoin miners capitulation ‘for now’ </a> 
<h2 class="wp-block-heading" id="expert-bitcoin-miner-market-will-see-a-shift-after-halving">Expert: Bitcoin miner market will see a shift after halving</h2> 
The Bitcoin halving slashed mining rewards by 50% and entities that deploy computing power to find new blocks will see reduced revenue. Reports suggest no signs of <a href="https://crypto.news/cryptoquant-ceo-sees-no-signs-of-bitcoin-miners-capitulation-for-now/" target="_blank" rel="">miner capitulation</a> yet and firms like Marathon also <a href="https://crypto.news/marathon-to-double-bitcoin-mining-capacity-by-2024/" target="_blank" rel="">moved</a> to double mining capacity this year.&nbsp; 
Still, many expect to see changes in the Bitcoin mining market as profit margins have <a href="https://crypto.news/bitcoin-miners-revenue-drops-amid-declining-transaction-fees/" target="_blank" rel="">changed</a> due to the <a href="https://crypto.news/?s=halving" target="_blank" rel="">halving</a>. Arrows Markets co-founder conveyed to crypto.news that the entry barrier has increased and existing players could look towards mergers or acquisitions to bolster operations.&nbsp; 
<blockquote class="wp-block-quote"> 
 “Those who do enter might find success only by focusing on extreme efficiency or alternative models, potentially including Bitcoin mining as part of a diversified mining portfolio to spread risk and chase better returns.” <cite>Edward Mehrez, Arrows Markets co-founder</cite>
</blockquote> 
 Read more: <a href="https://crypto.news/bitcoins-halving-unlikely-to-affect-price-in-next-18-months-kaiko-says/" rel=""> Bitcoin’s halving unlikely to affect price in next 18 months, Kaiko says </a>

Bitcoin miner Stronghold explores sale after halving

Съдържание

crypto.news

Други статии, публикувани на 2.05.2024 г.

Ripple Ramps Up Effort to Strike SEC's Expert Materials

Furrever Token (FURR) Emerges as Investors’ Top Choice Amidst Solana (SOL) and Ethereum (ETH) Res...

Hottest Learn-To-Earn Token Presale Raises Nearly $1 Million Fueled by High Staking Rewards

Ripple Vs. SEC: What To Expect From Ripple’s Reply As XRP Price Jumps 4%

MicroStrategy Stock Revised To Overweight, MSTR Price Target $194

Analysts Say This Crypto Will Lead The 2024 Bull Run Ahead Of Solana (SOL) And Ethereum (ETH)

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!