Summary
TLDR: Miners need to adopt more sustainable strategies after recent bankruptcies and lack of investor interest, as spot traded bitcoin ETFs are now seen as better investments than mining stocks.
Key Points
1. Miners will need to adopt more prudent strategies in order to survive in the current crypto market, which has seen bankruptcies and dried up capital markets for many mining businesses.
2. Investors are now favoring spot traded bitcoin exchange-traded funds (ETFs) over mining stocks, even as the price of bitcoin reaches new all-time highs heading into the halving event.
3. The unsustainable growth-at-any-cost approach seen during the 2021 bull run is no longer viable for miners, who must now focus on more sustainable and profitable methods of operation.