Today the price action returned above the $43,000 level a move that confirms that it entered lateralization before the next bounce to the upside, now while the market continues in accumulation zone some companies are preparing for the next Bitcoin Halving event.
Among the companies that have started preparing for the upcoming Bitcoin Halving event is CleanSpark, from my perspective this move is somewhat contradictory understanding that post Halving mining capacity will be halved.
In an article published by Brayden Lindrea CleanSpark Inc. is "poised to double its hash rate in the first half of 2024 after the Bitcoin miner agreed to buy four new mining facilities before the cryptocurrency's mining bounty is halved"
It has been mentioned that, "CleanSpark announced on February 6 that it purchased three mining facilities in Mississippi for USD 19.8 million, which will immediately produce 2.4 exahashes per second (EH/s) once the purchase is finalized."
What's interesting about all of this is that, "CleanSpark shares surged 440% in 2023. CleanSpark experienced a price correction to start 2024 and is currently down 20% year-to-date."
SOURCES CONSULTED
Cointelegraph. Bitcoin miner CleanSpark set to double hash rate as halving approaches. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
