TMT sector trends: will there be an M&A spree in bitcoin mining?
In November 2021, bitcoin was trading at an all-time high of about USD 65,000, signalling a bull market that allured 16 new publicly traded miners into the fray in 2021. An expert interviewed by Third Bridge Forum noted that many businesses were built based on margins that, as a result of macroeconomic conditions, are no longer there. And with high levels of debt due in the next 8-12 months, we heard a period of industry consolidation could be on the way.
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