That’s a great observation. I just checked, and the WSJ site is reporting that as of October 31, 2024 just under 42 million BITF shares are being shorted, or about 11% of the float.
If you think about it from a miners perspective, would you sell majority of your Bitcoin now or down the line when Bitcoin still has so much room to grow . That’s the reason why miner shares are not pumping , because they know they will get more bang for their Buck down the line in 2025. As soon as bitcoins price stabilize’s at high. We will see miners take off like a firecracker , they are all storing most of their Bitcoin saving it for that , expect for hut who may have sold a good amount to bring in my shareholders and keep them happy. Our time is coming just have to be patient .
ditch the losers and go with the winners. Too much drama with bitframs. Miners are up double digits and bitf is up 4% and like usually most likely will give it up.
I hear what you’re saying. Truth is, I think the entire BTC mining space has to be rolled up into maybe three, four companies at the most. To the extent RIOT is really serious about absorbing BITF into its operations, RIOT has gotta step up and pay the price that’ll get BITF shareholders to go for a deal.
It also has to be mentioned that the miners are being heavily shorted. Wouldn't this have an impact too?
That’s a great observation. I just checked, and the WSJ site is reporting that as of October 31, 2024 just under 42 million BITF shares are being shorted, or about 11% of the float.
Arbitrage play on MSTR conv notes vs short miners, but shorts eventually need to cover. Then, miners to lift off!
If you think about it from a miners perspective, would you sell majority of your Bitcoin now or down the line when Bitcoin still has so much room to grow . That’s the reason why miner shares are not pumping , because they know they will get more bang for their Buck down the line in 2025. As soon as bitcoins price stabilize’s at high. We will see miners take off like a firecracker , they are all storing most of their Bitcoin saving it for that , expect for hut who may have sold a good amount to bring in my shareholders and keep them happy. Our time is coming just have to be patient .
I needed that 😁
Can you do a coverage video about Bit Digital Inc
Hope the 20,000 actually arrived.
I can understand frustration. I think nearly all miners are in consolidation situation. Thanks for sharing your insight.
Lol @ Consolidation
ditch the losers and go with the winners. Too much drama with bitframs. Miners are up double digits and bitf is up 4% and like usually most likely will give it up.
I hear what you’re saying. Truth is, I think the entire BTC mining space has to be rolled up into maybe three, four companies at the most. To the extent RIOT is really serious about absorbing BITF into its operations, RIOT has gotta step up and pay the price that’ll get BITF shareholders to go for a deal.