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    Home ยป Bitcoin Intensifying competition prompts mining companies to consider selling
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    Bitcoin Intensifying competition prompts mining companies to consider selling

    By adminJul. 18, 2024No Comments1 Min Read
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    Bitcoin Intensifying competition prompts mining companies to consider selling
    Bitcoin Intensifying competition prompts mining companies to consider selling
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    According to Bloomberg, Cipher Mining is considering the interest of potential buyers. The company has initiated negotiations but has not committed to a sale, indicating that discussions are still in the early stages.
    Against the backdrop of rapid development in the AI industry and the increasing demand for data centers, Bitcoin miners are facing revenue challenges after the halving event in April. This financial pressure has prompted many in the industry to consider strategic choices. Analysts from JPMorgan emphasized the trend of AI companies exploring alternative solutions such as leasing power or obtaining data center capacity from BTC miners, given the limitations of direct power access.
    Meanwhile, North American Bitcoin miner Core Scientific recently signed a long-term contract with CoreWeave, and CleanSpark acquired GRIID Infrastructure for $1.55 billion. In the competitive landscape, Riot Blockchain is also attempting a strong acquisition of Bitfarms, highlighting the intensifying global market competition.
    When commenting on industry dynamics, Kerrisdale Capital expressed doubts about the sustained competitiveness of BTC miners listed in the United States, due to the high level of commercialization in the industry and the intensifying international competition.

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