Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?
Cointelegraph
Published Jul 17, 2022 04:00PM ET
Updated Jul 17, 2022 05:40PM ET
A July 9 post by @PricedinBTC on the "cost to mine Bitcoin" in the United States gathered the crypto community's attention, especially considering the recent headlines that BTC miners have made. The crypto bear market and growing energy costs have caused a perfect storm for the mining sector and this has led some companies to lay off employees and others to defer all capital expenditures. Some went as far as raising concerns of Bitcoin miners hitting a “death spiral.”
However, Raymond Nasser, the CEO of Arthur Mining, a professional mining company operating in the United States told Cointelegraph that their margins don't full concur with the data from @PricedinBTC.
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Written By: Cointelegraph
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