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Bitcoin and bear market: BTC miners review their priority


The miners in the hard – While the market for cryptos stagnates in an in-between relatively down and that the price of energy is at most highthem minors of bitcoins are in a delicate situation. Caught between the crossfire of regulation and ecological ambitions, specialists in the extraction of bitcoins see their income fall at the end of the year 2022. Waypoint.

Go back to November 2020 to find the same income levels

Let’s go back to November 2, 2020 to regain such a level of income from minors of bitcoins, namely 11.67 million of dollars. At that time, thee price of BTC was at $13,500 versus 16,500 today, but in the meantime difficulty mining has broken a new record and the price energy exploded.

At the same time, the rate of hash of the Bitcoin network fell slightly from 316.7 exahash per second the October 31 last to 225.9 today. Among other causes, we find the displacement of certain production units in localities where energy is cheaper and the use of cheaper mining equipment to compensate for the increase in energy.

Revenue from bitcoin miners – Source: blockchain.com

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New environmental paradigms for industry

North America is looking to green its industry mining and don’t beat around the bush. To Newyorkenergy sources carbonaceous are now prohibited for the new extraction structures, while at the Quebecthe authorities are squarely considering to cut the stream of local miners.

On this subject, the mayor of the big apple, Eric Adams, nevertheless wanted to be reassuring:

“I will work with lawmakers who are in favor of it and with those who have concerns and I think we will come to a compromise. »

Eric Adams, Mayor of New York in Cointelegraph

The proliferation of constraints related to cryptocurrency mining and the situation macroeconomic has seriously dampened the enthusiasm of miners who see the profitability of their activity decline at the same time as the course of Bitcoin. Some big players even begin to chatter as the crypto winter promises to be long and harsh.

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