RIOT - Bitcoin Halving Could Make 9 Of 11 Largest Public Miners Unprofitable: Analyst | Benzinga
The Bitcoin (CRYPTO: BTC) Halving in April could make nine of the 11 largest publicly traded Bitcoin miners unprofitable at a Bitcoin price of $40,000, according to a new Cantor Fitzgerald report.
What Happened: A preview of the report sees only Bitdeer (NASDAQ: BTDR) and CleanSpark (NASDAQ: CLSK) maintain profit margins, with nine other mining possibly requiring a significantly higher price of Bitcoin.
The two mining companies at maintain a cost-per-coin rate of $17,774 and $36,896 respectively. Argo Blockchain (NASDAQ: ARBK) and Hut 8 Mining (NYSE: HUT) are seen as the most impacted with an "all in” cost-per-coin rate of $62,276 and $60,360, respectively.
Marathon Digital (NASDAQ: MARA), Riot Blockchain (NASDAQ: RIOT), and Core Scientific (NASDAQ: CORZ) are also among those likely to be impacted significantly.
The report analyzes the all-in cost per coin immediately ...