Lex Moskovski, a cryptocurrency researcher and a quant trader said: “Any institution, company, and individual that holds any of the ETF below or plain $TSLA holds Bitcoin as well. Tesla has pulled the ultimate trojan horse. Let’s welcome Warren Buffett and the Swiss National Bank. Holding TSLA? You are long $BTC.”
With the recent price surge, Bitcoin miners saw an opportunity to double their earnings. In recent months, major hedge funds and financial institutions linked the cryptocurrency’s high price to the shortage in exchanges. In May 2020, Bitcoin cut the amount of new Bitcoin mining in half. Hence, mining became an even larger investment and miners’ revenue decreased by 50% in a blink of an eye.
“Our miners are incredibly bullish on the future of mining. January and February 2021 have been record months for most of them, and they are taking all of their profits and reinvesting it back into their business to grow future hash rate.” Vera added.
How Bitcoin miners made $4 million in an hour
According to data from Glassnode, Bitcoin miners profited over $4 million in 60 minutes on February 12 — the highest mining revenue in the history of the cryptocurrency.
