What's Up with Bitmine and Bitcoin?

So, Bitmine made bank off Bitcoin, right? But now they’ve kinda backed off. What’s up with that? Any chance they’ll jump back into Bitcoin?

I doubt they fully stopped investing in BTC. Their holdings might not be huge compared to big players like MicroStrategy. They seem more focused on Ethereum instead. I mean, they aim to grab a chunk of Ethereum’s supply, so they’re probably halfway there already.

Not throwing shade on Ethereum, but it did start after Bitcoin. Back in the day, holding ETH was more profitable than Bitcoin. Everyone was hyped about it on all the forums. The altcoin boom? Yeah, that came from Bitcoin too. But I think regular folks are better off sticking with Bitcoin.

Can’t really rate ETH over BTC. Just my take, but it’s clear Bitmine leans toward Ethereum for reasons we probably can’t fully understand. If you’re curious, check out their site for more details they got an ‘about’ section.

They were trying to catch up with what MicroStrategy was doing, but there are loads of other companies with BTC. By shifting to Ethereum, they made way more cash. VCs chose them to be the Ethereum equivalent of MicroStrategy. Kinda feels like it’s all about maximizing profits.

They missed the Bitcoin boat compared to other big investors and saw the potential in Ethereum. By going for ETH, they’re not late to the party like they would be with Bitcoin. They probably just see it as a better opportunity right now.

Bitmine isn’t tied to Bitcoin’s fate. Honestly, they might’ve realized Ethereum's not looking great now. If they hadn’t pivoted, ETH could’ve struggled more than it has.

I get it, but shifting to ETH seems off to me. It’s not my money, so who am I to judge? But time will tell, Bitcoin is the safer bet for large funds. Just look at recent trends.

Yeah, but only Bitmine knows what’s going on in their heads. We can guess all we want, but it’s their decision. Guess it’s more personal interest than anything else.

Do we even need to dissect their reasons? Seems like they made their choice.