Cryptocurrency
Bitcoin Miner Death Spiral Cancelled as Hash Rate Sets New All Time High
As reported on NewsBTC, “Following the Bitcoin halving, concerns over miner capitulation have proven unfounded. The week just gone saw the network hash rate reach a new all-time high of 125 million TH/s. “Significant pullbacks occurred in March and May, sparking fears of the beginning of a miner’s exodus. Current data shows the Bitcoin network is strong […]
As reported on NewsBTC, “Following the Bitcoin halving, concerns over miner capitulation have proven unfounded. The week just gone saw the network hash rate reach a new all-time high of 125 million TH/s.
“Significant pullbacks occurred in March and May, sparking fears of the beginning of a miner’s exodus. Current data shows the Bitcoin network is strong as ever.
“At the time, Digital Asset Manager at Caprioleio, Charles Edwards, warned of a confluence of factors, including rising production costs and stagnant price, that would trigger a capitulation of miners…”