|
Feb 17
|
|
—
|
LONG
|
Todd Alt
CEO/Founder, Alt Blockchain
|
Todd explicitly states, "We took the initiative of Bitcoin because we're big Bitcoin miners... We took the proof of work concept and said, 'Hey, we're just going to reward you for running a software node.'" He also details the inability to move $200M in Bitcoin liquidity due to banking freezes. The fragility of the fiat banking layer (debanking compliant firms) reinforces the value proposition of permissionless settlement layers (Bitcoin) and the miners that secure them. As banking rails become more restrictive, the premium on "uncensorable infrastructure" increases. LONG. Bitcoin remains the primary hedge against the specific banking failures described. Regulatory crackdowns on mining energy usage or "unhosted" wallets. |
CoinDesk
The Uncensorable Layer 1 Built from Being De-...
|
|
Feb 17
|
|
—
|
AVOID
|
Bobby Lee
Founder, Ballet Crypto
|
"A lower price would cause more miners to be unprofitable and leave Bitcoin mining and maybe repurchase their machines to do something else with AI data centers." Bitcoin price is a leading indicator for miner health. If BTC drops to $40,000 (as predicted), mining profitability will collapse. This forces a shakeout where only those capable of pivoting to AI/HPC (High-Performance Computing) survive. Until the price bottoms, pure-play miners face severe margin compression. AVOID (until BTC price stabilizes or AI pivots are confirmed). Miners successfully hedging their production or a sudden spike in transaction fees offsetting the price drop. |
Bloomberg Markets
Bitcoin Bull Bobby Lee Warns Bitcoin Could Br...
|
|
Feb 10
|
|
—
|
WATCH
|
Mackenzie Sigalos
Crypto Reporter/Analyst, CNBC
|
Miners are the primary source of marginal selling pressure right now as they sell coins to keep lights on. With Bitcoin near their production cost ($60k), miners are in survival mode. They are immediately selling mined Bitcoin to service debt. Some are pivoting to "High Performance Computing" (AI) to survive. Production cost cited at $60k. If BTC drops below $60k, widespread bankruptcies and industry consolidation will occur. |
CNBC
Behind the volatility in crypto: Bitcoin hove...
|
|
Feb 09
|
|
—
|
LONG
|
Christian Lopez
Head of Blockchain and Digital Assets at Cohen & Company Capital Markets
|
"Capital is pivoting to the new hot thing which is AI... Bitcoin miners are moving to AI... there's more money to be made in AI." Pure-play crypto mining is suffering from the "bear market" and "opportunity cost." Miners that successfully transition their HPC (High-Performance Computing) centers to service AI demand are unlocking a superior, more stable revenue stream. Long the miners that are explicitly pivoting infrastructure to AI compute rather than just hashing Bitcoin. Execution risk on the pivot; AI bubble bursting. |
The Block
From Coinbase Superbowl ad to upcoming earnin...
|