Could Bitcoin Miners' Problems Trigger a "Death Spiral" for BTC Price?
Bitcoin Miner Force-Sell Raises BTC Price Concerns, But Renewable Energy Use and Growing Interest of the oil and gas industry for BTC are long-term positive.
In bear markets like this, inevitably, a bitcoin critic comes out and says that bitcoin will soon crash out of a "spiral death of miners”, which means that miners will go offline because it is unprofitable to run their operations, then Bitcoin’s hash rate will drop, causing its…
— Cory Klippsten (@coryklippsten) July 6, 2022However, Raymond Nasser, CEO of Arthur Mining, a professional mining company operating in the United States, told Cointelegraph that their margins do not fully agree with data from @PricedinBTC.
Cost to mine 1 #bitcoin in each US state pic.twitter.com/JKug0KtGVq
— Price in ₿itcoin ∞/21M (@PricedinBTC) July 9, 2022
Bitcoin Miner Force-Sell Raises BTC Price Concerns, But Renewable Energy Use and Growing Interest of the oil and gas industry for BTC are long-term positive.
In bear markets like this, inevitably, a bitcoin critic comes out and says that bitcoin will soon crash out of a "spiral death of miners”, which means that miners will go offline because it is unprofitable to run their operations, then Bitcoin’s hash rate will drop, causing its…
— Cory Klippsten (@coryklippsten) July 6, 2022However, Raymond Nasser, CEO of Arthur Mining, a professional mining company operating in the United States, told Cointelegraph that their margins do not fully agree with data from @PricedinBTC.
Cost to mine 1 #bitcoin in each US state pic.twitter.com/JKug0KtGVq
— Price in ₿itcoin ∞/21M (@PricedinBTC) July 9, 2022What's Your Reaction?
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