Bitcoin (BTC) miners are ramping up production significantly, with the 16 largest publicly traded mining companies accounting for 16% of all BTC mined, brokerage Bernstein said in a research note on Thursday.
Bernstein stated that their current combined mining capacity is 72 exahashes per second (EH/s), noting that the company plans to increase this by 182% in the next 2-3 years.
Analysts said, “Large miners with low production costs and low debt are likely to be the biggest beneficiaries of increased capacity, and they have a greater ability to withstand any Bitcoin price fluctuations and the upcoming Bitcoin halving belt in the first quarter of 2024.” Costs are going up.”