Investor confidence in the profitability of Bitcoin mining post-halving has led to a decline in Bitcoin mining shares both in the US and internationally, but according to industry analyst Mitchell Askew, these fears are baseless.
Askew, who works as the head analyst for Bitcoin mining company Blockware Solutions, believes that investors will soon see that their concerns were largely unfounded.
The recent decrease in Bitcoin’s price by 7.5% and concerns about post-halving profitability were the main factors causing a decline in mining stocks. Askew also predicts that the halving event will be a positive event for both public Bitcoin miners and the private ASIC market.
The share prices of two of the largest BTC miners, Marathon Digital (MARA) and Riot Platforms (RIOT), have dropped by 53% and 54%, respectively, since their highs in February of this year, according to Google Finance.
