Crypto Mining: Are There Signs of Miners Giving Up?
Cryptovest
Published Aug 14, 2018 07:21AM ET
Updated Aug 14, 2018 08:41AM ET
Crypto Mining: Are There Signs of Miners Giving Up?
The hashrate on the Bitcoin network reached records over the past days, climbing as high as 55 million TH/s. However, prices are hovering dangerously close to breakeven levels, and the social media of the crypto world are seeing regular offers from liquidations of mining farms.
The trend came to a head a few days ago, when the BitPico crypto group announced it is liquidating all its BTC at $8,300, and selling all their mining rigs. Since then, the controversial crypto group has deleted all its tweets, and taken the position that BTC markets and mining are highly manipulated activities:
https://twitter.com/JoshRoomsburg/status/1026165934363488256
The behavior of miners in the coming months may point to the direction of BTC prices. Large, early farms that have already paid off may survive longer. But others may see it more profit...
This article appeared first on Cryptovest
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Written By: Cryptovest
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