Posted 10/11/2023, 4:31:00 PM
JPMorgan: Bitcoin Miners Face 'Crucial Moment' as SEC Weighs Spot ETF Approval Ahead of Reward Halving
- JPMorgan says bitcoin mining industry is at a 'crucial moment' as SEC considers spot BTC ETF approval
- ETF approval could boost mining revenues before block rewards halve, threatening profitability
- JPMorgan favors miners with best value based on hashrate, efficiency, power costs, growth plans
- Bank initiates coverage on several miners, upgrading Iris Energy but downgrading Marathon and Riot
- Estimates $20B four-year reward opportunity, but 20% of hashrate at risk from upcoming halving
