Grayscale Bitcoin Mini Trust (BTC) Files to List on NYSE
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The underperformance of Bitcoin mining stocks is a 'compelling buying opportunity' - analyst
March 12, 2024 11:25 AM EDTOn Tuesday, analysts at H.C. Wainwright released a note providing their views on the Bitcoin (BTC) mining industry, noting a significant increase in the collective operating hash rate among publicly traded BTC miners for February. The hash rate rose by 8% month-over-month to 125.7 EH/s, representing 22% of the total network hash rate at month-end, up from 21% in January, said the firm. Despite this increase, there was a 12% month-over-month decline in total BTC production, with miners producing 5,175 BTC compared to 5,848 BTC in January.
The decrease in BTC production was attributed to a 52% month-over-month drop in transaction fees and a 9%... More
