Miners Rebound as Bitcoin Recovers From Crypto Winter

Bitcoin miners are beginning to weather the difficult crypto winter, according to recent reports. Mining difficulty has been on the rise since the end of 2018, when the crypto winter began. This suggests that, while miners are still incurring losses due to low prices, they remain entrenched in the market, weathering the storm in anticipation of better days ahead. One reason for this is the fact that some miners are sitting on what are referred to as “cheap” mined coins — coins that were mined when the price of the coin was much lower than it is now. As a result, these miners have an incentive to hold onto their coins, hoping that the price of the coin will eventually increase and turn their losses into profits. Additionally, some miners have also taken to cutting their electricity costs by utilizing more efficient mining hardware and shifting to locations with lower electricity costs.

Categories: Crypto / Daily Views: 1 /

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