The results of the first quarter of Bitcoin minors (BTC) can disappoint because the hashprice, a measure of the profitability of daily mines, fell and the commercial prices weighed on the market, said the director of assets Coinshares (CS) on Friday in a blog article.
“Q2 results can show deterioration, because prices on imported mining platforms range from 24% (Malaysia) to 54% (China),” James Butterfill analysts wrote.
Bitcoin minors that depend on older or less effective platforms are faced with higher exposure at these rates, depending on the report.
Core Scientific (Corz) is “better isolated because it goes to HPC”, wrote the authors, adding that Bitdeer (BTDR), which makes its own platforms, could see the pressure of the margins on sales outside the United States
The asset manager provides that the Hashrate of the Bitcoin network could reach 1 zettahash per second (ZH / S) by July and 2 ZH / S by early 2027.
Hashprice prospects are not as positive.
The model of the asset manager indicates “a progressive structural drop, with prices likely to remain linked to the range between $ 35 and $ 50 per pH / day to half in 2028”.
Prices and trade tensions could be positive for the adoption of Bitcoin in the medium-term, said Grayscale, responsible for assets, in a research report earlier this month.
Find out more: Bitcoin minors with exposure to the sub-performed HPC in the first two weeks of April: JPMorgan
