Brokerage firm Bernstein has advised buying Bitcoin mining stocks to gain indirect exposure to the cryptocurrency ahead of the upcoming BTC halving.

In a research report, Bernstein analysts recommended Riot Platforms (RIOT) and CleanSpark (CLSK) as the firm’s preferred picks among Bitcoin mining stocks, noting that, “most of the U.S. listed miners look relatively well positioned,” at Bitcoin’s current price level, “even if their costs double post halving.”

The Bitcoin halving, which takes place roughly every four years, sees the rewards received by Bitcoin miners for successfully completing a block halved. In the next halving, expected to take place in April 2024, the reward will be slashed from 6.25 BTC to 3.125 BTC.

Citing “positive ETF flows momentum, resilient BTC price action and healthy miners adding capacity into the halving,” the report’s authors said that they see the institutional narrative led by spot Bitcoin ETFs driving demand, adding, “we expect higher price will bring higher ETF inflows, leading to new highs in 2024.”

CleanSpark, one of Bernstein’s recommended picks, recently announced that it had purchased three

Go to Source to See Full Article
Author: Decrypt Staff

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details