Summary
TLDR: JPMorgan analysts believe that publicly traded bitcoin miners will benefit from the halving event, as smaller miners may struggle due to increased concentration of miners and potential drop in bitcoin price. Publicly traded miners have advantages such as lower electricity costs and access to equity markets, making them more likely to survive and thrive post-halving.
Key Points
1. Publicly traded bitcoin miners have a competitive advantage during the halving, according to JPMorgan analysts.
2. Analysts predict a 20% drop in hashrate post-halving, leading to a decrease in production costs to around $42,000.
3. Publicly listed miners have access to equity markets and larger amounts of capital, positioning them well for success post-halving.