As the coming year nears closer to the halving of Bitcoin block rewards, investments in Bitcoin mining stocks are becoming more and more risky. Despite yielding double-digit returns so far this year, BTC mining stocks could see a bleak future unless Bitcoin supports the industry.
Riot Platform became one of 2023’s biggest success stories, reaching a 442% gain from Jan. 3 lows. However, the potential halving ‘risk’ has investors reconsidering their specs in the sector. Seeking Alpha recently released a report depressing investors with the caution that the halving will make it extremely difficult for the industry to remain unscathed.
