Marathon is buying corn instead of miners. Pretty wild and I don't know what to make it. You would think that a large miner would be able to acquire Bitcoin cheaper than buying it spot.
I would like to say its signalling how bad the mining market is right now but I think there's more to it. Curious to know why.
Sign of an upcoming pump, maybe?
Yes. If miners are buying that means the price to mine is more than price to buy, or they’re stupid lol
and if bitcoin pumps, fees should get higher, making mining more profitable
I saw this recently. Could be related in that they aren't competitive enough so need the MicroStrategy play to boost their stock? IDK
No, miners are buying it because they know the price is going to increase soon.
#622119 from @Rsync25
Marathon has been a hodL miner, i.e. they hold more than they sell
Terawulf is the only public miner I am aware of who does not hodL
Being a public company is not easy, being a miner is not easy
Top priority for a public company is maximizing market cap
The ones that have managed to keep at it this long are ones you can usually follow.
If they buy, you should be buying, too.
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