Canaan exec says opportunity outweighs crisis as Bitcoin miners struggle with shrinking profits
2022.08.23 10:01
Canaan exec says opportunity outweighs crisis as Bitcoin miners struggle with shrinking profits
2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that bears aren’t even close to being ready to let up. Crumbling crypto prices also equate to diminishing profits for Bitcoin miners and this week’s regulatory action by the United States lawmakers requesting energy consumption data from four major BTC mining companies is bound to exert a bit more pressure on an already fragile situation.
Despite the increasingly bearish climate, most of the Bitcoin miners Cointelegraph has spoken to are incredibly optimistic about Bitcoin’s short and long-term price prospects.
