According to crypto market maker Wintermute, Bitcoin miners may need to rethink their strategies if they want to remain competitive in the coming years. Wintermute believes that mining companies will increasingly need to use their Bitcoin holdings more actively, instead of relying on traditional mining and holding them on their balance sheets. The firm argues that the long-standing “HODL” model, where miners accumulate BTC as a treasury asset while waiting for the coin’s price to appreciate, is becoming structurally outdated. With tighter margins, rising operational costs, and ever-changing market dynamics, Bitcoin ... (full story)