Hashrate falls as BTC fails to break above $30K
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Hashrate falls as BTC fails to break above $30K
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Breaking! Less people mine when it’s less profitable!
It dropped 4%?
Isn’t that like super little? Almost like noise?
Are the two even connected?
tldr; The latest difficulty adjustment, effective at block height 737,856, reduced mining difficulty by 4.33%. This represents the fourth difficulty drop of the year, and the largest one since July 2021. With BTC failing to break above the $30,000 resistance, miners with tighter profit margins have started to turn off their miners.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Makes sense.
You only run the old equipment at a loss for so long before you wake up.
Another factor could also be the fact that it’s getting hotter in the northern hemisphere where a vast majority of miners are so electricity is getting more expensive.
ok and? we are in a bear market. hold.