Will the Bitcoin mining industry collapse? Analysts explain why crisis is really opportunity
Cointelegraph
Published Jul 29, 2022 05:41PM ET
Updated Jul 31, 2022 08:00PM ET
Bitcoin mining involves a delicate balance between multiple moving parts. Miners already have to face capital and operational costs, unexpected repairs, product shipping delays and unexpected regulation that can vary from country to country — and in the case of the United States, from state to state. On top of that, they also had to contend with Bitcoin’s (BTC) precipitous drop from $69,000 to $17,600.
Despite the BTC price being 65% down from its all-time high, the general consensus among miners is to keep calm and carry on by just stacking sats, but that doesn’t mean the market has reached a bottom just yet.
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Written By: Cointelegraph
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