BTC Digital Raises $6 Million as Fifth Bitcoin Miner Converts BTC Reserves to Ethereum Amid Reward Decline – Crypto News – Crypto News
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BTC Digital Raises $6 Million as Fifth Bitcoin Miner Converts BTC Reserves to Ethereum Amid Reward Decline BTC Digital Raises $6 Million as Fifth Bitcoin Miner Converts BTC Reserves to Ethereum Amid Reward Decline

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BTC Digital Raises $6 Million as Fifth Bitcoin Miner Converts BTC Reserves to Ethereum Amid Reward Decline – Crypto News

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Bitcoin mining companies are increasingly shifting their focus and resources toward Ethereum amid concerns over Bitcoin’s diminishing block rewards and the sustainability of its mining incentives

Bitcoin mining companies are increasingly shifting their focus and resources toward Ethereum amid concerns over Bitcoin’s diminishing block rewards and the sustainability of its mining incentives. BTC Digital, a Bitcoin mining firm, recently announced a full pivot to Ethereum, converting all its Bitcoin reserves into Ethereum and raising $6 million to accumulate more ETH. This move marks the fifth Bitcoin mining company to make such a transition in recent months. Industry observers highlight that Bitcoin’s heavy reliance on issuance subsidies poses an existential threat to miners, particularly smaller ones, as on-chain fundamentals deteriorate. Meanwhile, Ethereum is experiencing accelerated institutional inflows and higher exchange volumes, further incentivizing miners to pivot their operations and treasuries toward ETH.

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