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HIVE - The Coming Reckoning Of Bitcoin Miners: A Sector Analysis
HIVE Blockchain Technologies Ltd
2024-02-05 05:04:25 ET
Summary
The implications and impact of "slow and steady" are vast and wide.
It could cause the Bitcoin mining sector to consolidate and favor a subset of miners in the short run, while risk breaking Bitcoin's PoW protocol in the long run.
These observations shape our expectations, HODL policy, and approach to Bitcoin mining sector.
As big as the Bitcoin ecosystem may be, we do not expect the Fed to bail it in a crisis.