Is it better to invest in Bitcoin directly or in mining companies after the 2024 Bitcoin halving?

The 2024 Bitcoin halving presents a complex investment landscape. Despite cutting miner revenue by 50%, Bitcoin's expected rising demand makes it an attractive long-term investment option. However, mining companies face significant challenges with reduced revenue per unit of hash power. For investors, this creates a fundamental decision between investing directly in Bitcoin, which benefits from increasing scarcity and demand, or in mining companies that extract it. While Bitcoin itself may offer more straightforward exposure to price appreciation, mining investments require considering operational challenges alongside potential industry consolidation opportunities in the post-halving environment.