JPMorgan: Mining companies are adopting the same Bitcoin acquisition strategy as MicroStrategy

ChainCatcher news, JPMorgan (JPM) stated in a report on Wednesday that Michael Saylor's software company MicroStrategy (MSTR) is not the only company making large-scale purchases of Bitcoin (BTC). Cryptocurrency mining companies are also adopting accumulation strategies.

The report noted that the shift towards accumulating Bitcoin is driven by increasing profit pressures, stemming from the halving of rewards in April and rising network hash rates.

Analysts wrote, "This may prompt mining companies to hoard Bitcoin or seek further investments in Bitcoin, or venture into artificial intelligence/high-performance computing businesses."