JPMorgan Forecasts 20% Drop in Bitcoin Mining After 2024 Halving, Prefer CleanSpark Over Marathon Due to Energy Costs
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JPMorgan forecasts a 20% decline in Bitcoin's hash rate after the April 2024 halving as inefficient miners shut down.
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The bank says the mining industry is at a "crucible moment" ahead of the halving.
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JPMorgan prefers CleanSpark as a mining stock due to its scale, growth, costs, and value.
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Marathon Digital has high energy costs and low margins despite being the largest mining operator.
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Some speculate the 4-year Bitcoin cycles are not actually related to the halvings, contrary to popular belief.