One certainly can hope that this is the bottom so that the people who bought in above this point will feel less pain sooner, but there are no guarantees. I guess we'll know in a year or two.
The article also talks about compass mining getting cut off in Maine.
Topic: [2022-06-28] Bitcoin mining revenue mirrors 2021 lows, right before BTC breached - page 2. (Read 515 times)
June 28, 2022, 02:06:56 PM
June 28, 2022, 09:44:25 AM
Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000.
Changes in Bitcoin prices directly impact the miners’ income, who earn fixed block rewards and transaction fees in BTC for running their mining operations. In June 2022, the total mining revenue dipped below the $20 million range, with Blockchain.com data recording the lowest dip of $14.401 million on June 17.As shown above, the recent dip in Bitcoin mining revenue was last seen one year back when the total value tanked to $13.065 million on June 27, 2021 — back when BTC traded at roughly $34,000. What followed after that was Bitcoin’s five-month-long epic bull run, which was supported by pro-crypto initiatives such as El Salvador’s BTC acceptance and crypto-friendly regulations across the globe.
Soruce: https://cointelegraph.com/news/bitcoin-mining-revenue-mirrors-2021-lows-right-before-btc-breached-69k
Changes in Bitcoin prices directly impact the miners’ income, who earn fixed block rewards and transaction fees in BTC for running their mining operations. In June 2022, the total mining revenue dipped below the $20 million range, with Blockchain.com data recording the lowest dip of $14.401 million on June 17.As shown above, the recent dip in Bitcoin mining revenue was last seen one year back when the total value tanked to $13.065 million on June 27, 2021 — back when BTC traded at roughly $34,000. What followed after that was Bitcoin’s five-month-long epic bull run, which was supported by pro-crypto initiatives such as El Salvador’s BTC acceptance and crypto-friendly regulations across the globe.
Soruce: https://cointelegraph.com/news/bitcoin-mining-revenue-mirrors-2021-lows-right-before-btc-breached-69k
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