Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?
2022.07.18 13:49
Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?
A July 9 post by @PricedinBTC on the “cost to mine Bitcoin” in the United States gathered the crypto community’s attention, especially considering the recent headlines that BTC miners have made. The crypto bear market and growing energy costs have caused a perfect storm for the mining sector and this has led some companies to lay off employees and others to defer all capital expenditures. Some went as far as raising concerns of Bitcoin miners hitting a “death spiral.”
However, Raymond Nasser, the CEO of Arthur Mining, a professional mining company operating in the United States told Cointelegraph that their margins don’t full concur with the data from @PricedinBTC.
