When a listed mining company drops its mining shovels and embraces staking certificates, the underlying logic of the crypto world is being reconstructed.
Market explosion: The mining circle suddenly sees 'defectors'.
Last night, Nasdaq mining company Bit Digital (BTBT) suddenly announced: liquidating Bitcoin mining machines, all in on Ethereum staking! As soon as the news broke, mining stocks fell sharply, with Hut 8 plunging 7% in one day, while ETH rose against the trend, breaking through $2500.
Anna's spicy commentary: This is not just an ordinary business adjustment, but a 'love letter' to the Bitcoin mining industry — in an era where electricity costs consume 90% of profits after the halving, miners are voting with their feet!
In-depth analysis: Who is killing Bitcoin mining?
Is the power struggle coming to an end?
After Bit Digital shuts down its mines, the total network hash rate will evaporate by 1.2 EH/s (equivalent to 60,000 S19 mining machines). But more critically, the signal significance: when listed companies believe 'mining BTC is not as good as buying ETH for interest,' the exodus of small and medium miners may accelerate.
Ethereum is the biggest winner.
According to on-chain tracking, the company has accumulated 42,000 ETH (approximately $150 million). If fully staked, it will directly enter the Top 10 node service providers, earning more than $6 million annually!
Anna's bloody experience: Miner Lao Wang used to earn 300,000 a month with 200 mining machines, but now the electricity bill has risen to 250,000. Last week he sold his mining machines for ETH staking, coldly laughing: 'Finally, I don’t have to work for the power plant anymore!'
Anna's decision-making notes: Three truths that overturn common understanding.
Yield crushing: The annualized yield from Bitcoin mining has dropped to 15%, while the combination of ETH staking + re-staking (like EigenLayer) can reach over 25%, with capital repricing in real money.
Regulatory nuances: The SEC explicitly defines BTC as a commodity, while ETH staking still faces the risk of securitization. Does BTBT dare to gamble, implying that institutions have received regulatory insider information?
Ecological Fission: As platforms like Lido attract whale capital, liquid staking tokens (like stETH) will become the new fuel for DeFi, and lending mining profits may explode again.
My position movements: Reduced holdings by 20% in Bitcoin mining stocks (MARA/RIOT), increased positions in LDO and ETH spot leverage ETFs (like ETHE).
Emergency alert: Wealth escape route for ordinary people.
Miner community: Sell off old mining machines immediately! The second-hand price of the S19 series has already fallen below $15/TH, losing more than 3% for every week of delay.
Retail holders:
BTC holders: Hedging strategies are essential! When mining companies sell off inventory coins, short-term pressure is unavoidable.
ETH believers: Dual-engine layout of staking + re-staking, focusing on yield amplifiers like SSV, PENDLE.
Speculative funds: Lurking in mining transformation concept stocks, CleanSpark (CLSK) has revealed multi-currency mining plans.
Endgame thinking: Is the history of hash rate extinction equal to the history of financial rebirth?
The sound of mining machines is fading, while on-chain staking certificates rustle. When Bit Digital carves out its new identity as a 'staking service provider' next to its Nasdaq code, we witness not just a corporate transformation — but a handover ceremony between the twilight of PoW old gods and the new order of PoS capital.
Soul-searching question: As more miners tear off the label of 'blockchain migrant workers' and transform into crypto bankers, are you ready to embrace the wealth distribution revolution of the staking economy era?