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Bitcoin Hash Fee Hits New Highs As Value Stays Flat — What It Means For Miners

Bitcoin’s complete hash charge has hit a brand new all-time excessive, in keeping with Coin Metrics data, solely weeks after the end of a two-month capitulation period for the trade.

Towards a more difficult setting, miners are put to the check as to whether or not they can keep profitability. Stability sheets are falling underneath stress as value stays principally flat whereas hash charge and mining issue preserve growing.

A broad miner capitulation began to start with of the summer season because the bitcoin value took a deep plunge, erasing all gains made in the previous year. Pressured, most public miners who had beforehand dedicated to holding their BTC started promoting their day by day mined bitcoin to cowl working prices amid diminishing margins. Later, some would additionally begin promoting the BTC that they had put in chilly storage.

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