The post Bitcoin miners are treading water, but no alarms of a ‘total firesale’ appeared on BitcoinEthereumNews.com.

Bitcoin miners are not “full-scale bear market level capitulating,” according to a crypto analyst. The rising operational costs and lower rewards are taking its toll on Bitcoin miners but it isn’t at catastrophic levels by any means, according to a cryptocurrency analyst. “We are in a period of hash ribbon inversion, and blocks are coming in about 14 seconds slower than they should do. That tells you that there is less hashrate online, blocks are being found slightly slower,” Glassnode lead analyst James Check, also known as “Checkmatey,” said in a June 21 X video. “About 5% of mining hashrate is struggling about the moment,” Check explained, referring to the amount of processing and computing power being given to the network through mining. Read more Source: https://cointelegraph.com/news/bitcoin-miners-hash-rate-ribbon-indicators-james-check-crypto-analyst

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Filed under: News - @ June 23, 2024 1:08 pm