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Report: In 2024, multiple listed Bitcoin mining companies increased their BTC holdings and expanded into AI businesses, achieving business diversification

ChainCatcher message, according to a report released by NiceHash and Digital Mining Solutions on January 7, publicly listed Bitcoin mining companies are following in the footsteps of MicroStrategy by increasing their Bitcoin treasury holdings.The report states: "In 2024, there has been a significant shift among Bitcoin mining companies, with many choosing to retain more of their mined Bitcoin or not selling it at all."Mining companies may choose not to sell Bitcoin for various reasons, including expectations of further appreciation in BTC prices or strengthening their balance sheets, as well as for hedging against currency devaluation.The report mentions that MARA Holdings, Riot Platforms, and Hut 8 have used borrowed funds to increase their Bitcoin holdings, further expanding their treasury strategies. Four of the largest 16 Bitcoin-holding companies are mining firms.The report states that, in addition to their core mining operations, by 2024, some mining companies "will further diversify into high-performance computing and artificial intelligence to generate predictable revenue streams to buffer against mining volatility."This trend is particularly evident in the United States, where "the harsh mining economics and lucrative AI/HPC business are enticing them to diversify into other computing fields." In addition to increasing their BTC holdings, mining companies like CleanSpark have also chosen to retain most of the BTC produced in recent months. Several Bitcoin miners with a market capitalization of at least $100 million have generated significant revenue from AI and HPC initiatives. For example, in the first three quarters of 2024, HPC/AI revenue accounted for nearly 8% of Hut 8's revenue and nearly 7% of Hive Digital's revenue.

Microsoft urges shareholders to reject the proposal to use Bitcoin as an investment diversification option

ChainCatcher news, according to CoinDesk, Microsoft disclosed in its Schedule A filing with the U.S. Securities and Exchange Commission (SEC) that the conservative think tank National Center for Public Policy Research (NCPPR) plans to propose a "Bitcoin Diversification Assessment" at the annual shareholder meeting. The Microsoft board recommends that shareholders vote against the proposal.NCPPR states in the proposal that Bitcoin is "an excellent choice for hedging against inflation, and may even be the best choice," and suggests that the company invest at least 1% of its total assets in this cryptocurrency. The think tank is one of the members of the "2025 Plan," advocating that companies consider including Bitcoin in their portfolios to hedge against inflation and other macroeconomic impacts.In its opposition statement, Microsoft stated that the company has "carefully considered this topic." The statement noted: "Past assessments have included Bitcoin and other cryptocurrencies as options, and Microsoft will continue to monitor trends and developments related to cryptocurrencies to inform future decisions."Microsoft emphasized that the company has established strong and appropriate processes to manage and diversify its corporate funds to ensure the long-term interests of shareholders. The company believes that the public assessment requested in the proposal is unnecessary. Microsoft also pointed out that, as stated in the proposal itself, volatility is an important factor in assessing whether cryptocurrency investments are suitable for corporate fund management, as corporate fund management requires stable and predictable investments to ensure liquidity and operating capital.

TOKEN2049 Roundtable: Diversified Stablecoin Competition Becomes the Norm, More Institutions Will Adopt Next Year

ChainCatcher live report, Messari CEO Eric Turner, along with Bullish head Chris Tyrer, B2C2 Asia Pacific CEO David Rogers, BitGo co-founder and CEO Mike Belshe, and Bitwise asset management research director Ryan Rasmussen, attended the TOKEN 2049 conference and engaged in an in-depth discussion on hot topics such as cryptocurrency regulatory frameworks, stablecoins, and future market trends at the roundtable titled "Taking the Temperature of the Institutional Crypto Space."The guests pointed out that although the cryptocurrency market currently has a relatively clear regulatory framework, there are still differences among countries in advancing regulation. They specifically mentioned that the European Union has partially implemented relevant frameworks, while the United States faces uncertainties due to elections and other factors. Tyrer further explored the application of stablecoins at the institutional level, emphasizing their important role in capital circulation, and questioned whether the stablecoin industry has fully accepted this role positioning.Rogers and Belshe expressed their views on the pros and cons of stablecoins and the key factors for future winners, stating, "Stablecoins are like networks. Just as people do not use only one bank but rather multiple banks using the same channels, there is competition among stablecoins." They believe that the stablecoin market will maintain a diversified competitive landscape rather than a single monopoly, while also emphasizing the impact of global regulatory differences on product design and market access. Belshe also noted that despite the significant volatility the cryptocurrency market has experienced in recent years, it is gradually maturing and is expected to attract more institutional investors in the future.Additionally, the guests analyzed the current market's stability and future potential from a research perspective, pointing out that as interest rates decline and competition in the credit market intensifies, cryptocurrencies as a non-correlated asset will attract more investors seeking high returns. Regarding the outlook for 2025, the guests stated, "We will see more companies and pension funds allocating funds to cryptocurrencies, and publicly listed crypto security companies will also emerge," specifically mentioning companies like MicroStrategy incorporating Bitcoin into their balance sheets and predicting that more publicly listed companies will follow suit, integrating cryptocurrencies into their financial planning, thereby further maturing the market.
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