Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miner Capitulation Falls
to FTX Collapse Levels
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miners are currently facing significant capitulation,
pushing them to innovate for additional revenues.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miner capitulation occurs when miners are forced to shut down due to
unprofitability or unsustainable operating costs. This can happen when the
cost of mining (including electricity, hardware, and operational expenses)
exceeds the revenue generated from mining the bellwether asset.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miners Face Economic Pressures Amid Capitulation
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Data from CryptoQuant shows a 7.6% drop in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining hashrate this month,
now resembling levels last seen during the FTX exchange collapse in December
2022. Unlike that period, today s decline follows Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s recent
halving, cutting miner rewards to 3.125 BTC. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miners
Capitulation. Source: CryptoQuant
Miners are also grappling with reduced revenues from alternative sources as
network activity diminishes. Initially, they benefitted from high fees during
the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin-based Runes protocol frenzy post-halving. However, earnings have
sharply declined as network activity slowed .
As of June 29, daily Rune transactions have plummeted from a peak of over
753,000 on April 23 to 21,861, marking a drastic 90% decrease. Consequently,
total miners earnings from Rune transactions have fallen below 2 BTC in
the past week, down from a peak of over 1000 BTC on April 20.
Read more: Making Passive Income From Crypto Mining: How to Get Started Runes
Protocol Fees. Source: Dune Analytics
Facing these economic pressures, miners are powering down their machines and
have intensified selling activities this month. Last week, BeInCrypto reported
that miners had offloaded approximately 30,000 BTC, valued at $2 billion.
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To further diversify revenue streams, miners are increasingly turning to
artificial intelligence (AI) and other Proof-of-Work• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта (PoW) assets. Companies
like Core Scientific and Hut 8 have secured significant funding for AI
expansion. Matthew Sigel, VanEck s head of digital research, reported
that Morgan Stanley• Объект организация » Организации по алфавиту » Организации на Mo » Morgan Stanley s Head of Sustainability Research, Stephen Byrd,
explained that these moves show that miners see potential profitability in AI
ventures amid evolving market dynamics.
I do respect the idea that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining could become more profitable.
There s a game theory here the more people who exit Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining
and become data centers, the more attractive it is for those who
remain, Byrd reportedly said .
Read more: Top Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта Mining Pools To Join 2024
On the other hand, Marathon Digital, the largest BTC mining company , has
announced its entry into mining Kaspa, a PoW project. The firm stated that it
has mined 93 million KAS, valued at approximately $15 million as of June 25.
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