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The important thing is having the balance sheet to withstand a suppressed BTC post halving price for 6-9 months. If this is necessary though any miners market cap will be in tatters and opportunities will arise. I’m hoping to move from Mara and into Mstr if this is looking likely. If I get stuck in a miner I’m happiest with marathons balance sheet and ops etc.
I would given very serious consideration to the ability CLSK has to survive long enough in a post halving world where btc is sub 45k, because that’s what I assume is coming and it’s what I’m basing my investments on. I need the balance sheet to show me the miner can survive a post halving massacre, and even then I’m still looking to de risk by year end into Mstr. That is unless btc shows me more than it has so far.
CLSK is solid in plenty of ways; but I’m not sure how they cope with a hypothetical X month delay post halving if btc stays sub 65k until October 2024 (loose example). Their balance sheet is not strong enough to withstand much of a gap there.
It will be absolute carnage amongst all miners post halving for a few months, if btc is not atleast $65k. As I’ve been saying for a little while now, there will be a dust settling period whilst the weak fall down, and global hash collapses, meaning the most efficient survive and in turn get a bigger slice on the pie. Even the best will here annihilated on share price during this period, if I can get out of Mara into MSTR this year at a favourable rate of MSTR to Mara share ratio I will sit the halving out. This is the safest thing to do, I’m currently break even on Mara.