Bitcoin Miners Face Growing Risks Unless They Rapidly Expand
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Many Bitcoin miners like RIOT and HUT are financially unsustainable at current Bitcoin prices except for MARA and IREN. More bankruptcies likely.
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"Slow and steady" growth by miners causes declining production and rising costs, making operations unfeasible. Fast growth is key.
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This could force consolidation in the mining sector, benefitting miners like CLSK and MARA but risking Bitcoin's decentralization.
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Bitcoin not "too big to fail" and faces existential risk from over-centralization and 51% attacks if miners consolidate too much.
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Remain conservatively bullish on Bitcoin based on halving cycles, buy CLSK, avoid miners losing market share like RIOT and HUT.