In the Bitcoin mining industry, in the face of challenges brought about by halving, mining companies are actively seeking new development directions to cope with market changes. Ryan Rasmussen, Research Director at Bitwise Asset Management, points out that the decrease in block rewards will have an adverse impact on the industry, signaling the emergence of consolidation within the next 18 months. Behind this trend of consolidation, some miners with substantial capital are aiming to enhance their strength through acquisition strategies, to gain an advantage in competition. Recent industry dynamics indicate that mining companies are actively exploring diversified development. For example, Riot Platforms announced the acquisition of Block Mining, aiming to strengthen its market position by expanding scale and resources. Meanwhile, companies like Bitdeer plan to utilize their existing power capacity to shift towards artificial intelligence (AI) and high-performance computing fields, seeking diversified revenue sources. This strategy not only helps alleviate the single dependence problem of Bitcoin mining but also reflects enterprises' forward-looking layout of future technological trends. Additionally, Marathon Digital's actions deserve attention from the industry. The company announced an investment of $100 million to purchase Bitcoin and decided not to sell the Bitcoin it holds, reflecting its confidence in the long-term value of cryptocurrencies. This move not only demonstrates mining companies' long-term holding strategy for crypto assets but also represents a proactive response to market trends, indicating how enterprises are adopting more flexible and forward-thinking operational strategies in the face of industry changes.