Bitcoin miners await refurbishment of mining equipment
According to a recent Bloomberg report, more than 6,000 outdated Bitcoin mining equipment in the United States will be updated and resold to miners around the world.
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According to a recent Bloomberg report, more than 6,000 outdated Bitcoin mining equipment in the United States will be updated and resold to miners around the world.
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Bitcoin faced a setback as miners cashed out 3,000 BTC, contributing to a recent price drop. Unusual selling levels by miners intensified the impact, prompting a recovery push to $42,900. While miners focused on covering operational costs, regular investors exhibited longer holding patterns. Despite the brief downturn, market resilience suggests ongoing investor confidence
Crypto stocks witnessed a colossal sell-off this month.
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With BTC falling in price since November and revenues falling further due to increased competition, miners are starting to be cash-strapped and need a boost.