US miners such as Mara Holdings, Riot Platforms, and CleanSpark accumulated bitcoin as a way of tempering tightening profit margins amid a spike in energy costs and increased competition for the resource. Even at the recent surge to $100,000, bitcoin miners face an uphill battle in the name of profitability and grid access. The event of the halving of bitcoin rewards in April this year reduced the daily rewards from 900 to 450 coins. Offshore expansion plans to areas with surplus energy are also in the works, while others are pivoting into leasing data center capacity to AI hyperscalers.
