Bitcoin Miners Invest Over $1 Billion in Equipment Purchase #BTC.đ.
Bitcoin Miners Navigate Bullish Market Trends
Survival Mode Activation: Bitcoin miners have re-entered survival mode, propelled by the prevailing bullish trend in Bitcoinâs market. The launch of the Spot Bitcoin ETF in January ignited substantial price surges for Bitcoin, catapulting it from below the $45k level to surpass $45k immediately after the ETFâs introduction.
Rising Price Trajectory: With the increasing acceptance of ETFs and anticipation surrounding the upcoming Bitcoin halving, the price of BTC began an upward trajectory. It swiftly surpassed significant milestones, including $50k and $60k, ultimately reaching a new all-time high of $70k recently.
Current Market Status: Presently trading at $68,684, Bitcoin exhibits a 24-hour increase of 1.94% and a weekly surge of 12.23%. These figures underscore the ongoing bullish momentum in the Bitcoin market, driving renewed activity among miners seeking to capitalize on the price surge.
Mining Companies Invest Billions in Specialized Computers
According to data from TheMinerMag, leading mining companies have collectively ordered approximately $1 billion worth of specialized computers since February 2023. Notably, CleanSpark Inc. and Riot Platforms emerged as the top spenders, allocating $473 million and $415 million, respectively, for these purchases.