Bitcoin miners are betting on a big increase in BTC price.
How high does BTC price need to go for miners to maintain their current valuations? The above-mentioned report concludes that nearly $100,000 could be needed for miners to carry on as usual:
“Unless Bitcoin outperforms our Bitcoin thesis, we don't see any way where the Bitcoin sector can come out unscathed. Even with RIOT's ambitious 35 EH/s, our model suggests that Bitcoin needs to trade above $98,000 to justify RIOT's current valuation .”" BTC mining stocks is"extremely risky,” as underlying fundamentals may not keep pace with current valuations that may not be pricing in next year’s Bitcoin halving yet.
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