Bitcoin (BTC) seems to be on everyone’s mind lately as the world recently witnessed the price of BTC take a rather unexpected bearish turn this month. On January 21, 2022, Bitcoin reached six-month lows, sinking below $40,000 for the first time in months. While some panicked, other industry experts pointed out that the Bitcoin network has become verifiably stronger than ever … [Read more...] about Bitcoin miners believe global hash rate to grow ‘aggressively’
Bitcoin miners are still generating healthy profits, despite the sharp selloff in crypto prices and an increase in the network hashrate, Wall Street investment firm D.A. Davidson’s analyst wrote on Tuesday.“Since the late-October peak, hash price ($/TH/day) has fallen from over $0.40 to just $0.22 today yet gross margins remain quite healthy, around 85% down from 91% at peak,” … [Read more...] about Bitcoin Miners’ Margins Are Still ‘Quite Healthy’ Even After Recent Selloff: D.A. Davidson
After the large spike in supplies held in miners’ wallets, the balance held in miner wallets has increased by about 6,474 bitcoins to about 1.826 million, as of Tuesday, versus 1.82 million in Dec. 31, Glassnode's data shows. Miners’ wallets may include other sources of bitcoin inflow, rather than just mined coins per day. Source link … [Read more...] about Bitcoin Miners Are Starting to ‘Hodl’ Again, but for How Long?
“There are a number of SPACs and IPOs that will look to close in the first half of 2022, such as Core Scientific, PrimeBlock, Rhodium and Griid,” Luxor Mining’s co-founder and Chief Operating Officer Ethan Vera said. These companies looking to go public not only face a correction in crypto prices but also an increasingly crowded market, he added. Source link … [Read more...] about Miners Going Public Amid Bitcoin Slump Face Tough Months Ahead
When bitcoin prices continue to drop, smaller miners with higher electricity costs often reduce their operations, which will probably help publicly listed North American miners pick up “meaningful” market share, analyst Jonathan Petersen said in a note. Source link … [Read more...] about Bitcoin’s Slump Is Good for Crypto Miners Long-Term, Jefferies Analyst Says