Miners face an absolute bloodbath in their attempts to acquire bitcoin profitably as hash rate and electricity costs continue to rise while prices remain low. The below is a direct excerpt of Marty’s Bent Issue #1275: “Miners are in a world of hurt.” Sign up for the newsletter here. The pain in the mining world continues as hash rate skyrockets, the difficulty adjusting upwards as a result and hash price craters as the price of bitcoin has remained in a tight range between approximately $18,000 and $20,000 for more than six weeks. After yesterday’s upward difficu ...
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