Bitcoin Miners Pivot To Other Areas In Quest To Diversify Earnings: JP Morgan

The cryptocurrency mining space is an increasingly competitive space, with miners having to optimize for lower profits. However, with the market cooling down, miners are now looking to other sources of income to supplement their profits. According to JP Morgan, miners are now starting to offer hosting services for wallets and exchanges, as well as developing blockchain products and services. They are also offering cloud computing and data services to companies developing blockchain applications. Additionally, some miners are venturing into the cryptocurrency lending and borrowing businesses, offering direct investments in various cryptoassets. All of these provide additional sources of income that will help to diversify miners’ earnings and avoid the effects of market fluctuations.