The strategy many miners have used to manage treasuries up until this point has been relatively simple: buy and hold bitcoin. In other words, hope and pray. With price models often assuming an average of ~2% spot growth per month, and a price floor near the current average production cost between $18,000 and $22,000. Clearly those assumptions have not held true.
‘Sell in May and Go Away’: The Seasonality of Crypto-asset Returns
The summer months, between June and September, have historically brought significantly lower investor returns than other months of the year,...