Odaily Daily News: According to a report released by NiceHash and Digital Mining Solutions on January 7th, listed Bitcoin mining companies have followed in the footsteps of MicroStrategy and increased their holdings of Bitcoin treasury.
The report states, "In 2024, there has been a significant shift in Bitcoin mining companies, with multiple companies choosing to retain more of their output in Bitcoin or not sell it at all
Mining companies may not sell Bitcoin for various reasons, including expecting further appreciation in BTC prices or strengthening their balance sheets, as well as for hedging against currency depreciation.
The report mentions that MARA Holdings, Riot Platforms, and Hut 8 have used borrowed funds to increase their holdings of Bitcoin, further expanding their treasury strategies. Among the 16 largest Bitcoin holding companies, 4 are mining enterprises.
The report states that in addition to core mining operations, by 2024, some mining companies will further diversify into high-performance computing and artificial intelligence fields, generating predictable revenue streams to buffer mining fluctuations.
This trend is particularly evident in the United States, where the "severe mining economy and lucrative AI/HPC business have tempted them to diversify into other computing fields." In addition to increasing their holdings of BTC, mining companies such as CleanSpark have also chosen to retain most of the BTC produced in recent months. Several Bitcoin miners with a market value of at least $100 million have earned considerable income from AI and HPC programs. For example, in the first three quarters of 2024, HPC/AI revenue accounted for nearly 8% of Hut 8's revenue and nearly 7% of Hive Digital's revenue.
