Bitcoin miners who are still drawing electricity from energy sources connected to the network will have difficulties after the next half of the event in 2028, said Mara Holdings (Mara) in a shareholders letter.
“For those miners who still depend on the power of the network, writing is on the wall. Energy costs will only increase. Half of the half of 2028 will probably force another calculation of the entire industry. Many may not survive,” said the letter.
The statement occurs when the mining industry has already been struggling to stay profitable after a recent event in the middle of half that saw Bitcoin rewards cut in half, which forces some miners to diversify their sources of high performance computing income (HPC) and artificial intelligence (AI).
Read more: AI is here, but that does not mean that Bitcoin miners are finished: blockspace
Mara, one of Bitcoin’s largest miners, said that in such a competitive market, the miners would need to differentiate or risk being left behind and fighting to stay profitable. “Those who do not differ will be relegated to be price collection in an increasingly competitive market.”
The mining solution, which states that it has already taken an “early advantage”, is to ensure low -cost energy, integrate its operations vertically and expand beyond the traditional Bitcoin mining business, referring to the fact that miners need to meet other computer needs such as AI and HPC.
“Our ability to acquire sites and generate low -cost energy, activate depreciated hardware and energy assets, and execute an integrated model vertically, from software and hardware, and now, to energy generation, will provide greater control over costs.” To this end, Mara recently bought a Texas wind farm that would reduce the energy costs of the miner.
Mara said that the development and sales of the infrastructure of the data center has also increased, which will become the infrastructure base layer for any need for computing.
“Either for Bitcoin mining or AI inference, we believe that our technologies will activate others to build, while Mara provides selections and shovels to display new systems and services, such as energy management, loading and infrastructure balance,” Mara said.
The miner also reported his earnings from the fourth quarter, where his sales of $ 214.4 million exceeded the average estimate of analysts of $ 187.8 million, according to Factset data. Mara’s shares rose more than 8% in the negotiation after the market, while Bitcoin fell 4.2% on Wednesday.
Read more: Bitcoin hashrate growth slows down in the midst of difficult market conditions for smaller miners
