Bitcoin Miners Capitulate as Hashrate Plunges to New Low

Bitcoin miner capitulation is highest since 2022 market crash

The Bitcoin hash price has reached ATH as miners struggle with rising costs. According to IntoTheBlock, Bitcoin miners have offloaded over 30,000 BTC in June.

This mass sell-off is largely attributed to the April halving event, which reduced block rewards by half. Such events typically lead to miner capitulation, where mining becomes unprofitable, forcing miners to liquidate their Bitcoin holdings to cover expenses.'Rich Dad Poor Dad' Author Calls Bitcoin Fast Track Investment, Here’s What He Means

Bitcoin Can Hit $75,000, Here's How, Another XRP Reversal Attempt, Dogecoin to Test out $0.13 Again, But There's Catch Bitcoin's hashrate has decreased by roughly 15% over the past month, reflecting the overall computational power that miners contribute to the network. The hashrate represents the number of calculations performed per second to validate and secure transactions. Hashing involves generating a random alphanumeric code and attempting to guess it, or something very close to it.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin price bouce will occur when ‘weak hands’ capitulate and hashrate recoversBefore a hashrate recovery can take place, the market needs to shake out weak hands and see Bitcoin miners capitulate.
Read more »

Bitcoin Hashrate May Finally Slow as Miners Face Scorching Summer HeatwavesAoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Read more »

Bitcoin miner sell pressure 'weakening' as BTC withdrawals drop 85%Bitcoin miners cool BTC withdrawals in June in what analysis says is 'weakening' Bitcoin sell pressure.
Read more »

Bitcoin (BTC) Miners' Capitulation Is Still On: Will It Ever End?Bitcoin miners still trying to drop off as much trading volume as they can, data suggests
Read more »

Bitcoin Whales Go Insane, Unloading $4.1 Billion in BTC as Price Crashes 9%Recent analytics report has revealed massive Bitcoin selling spree performed by whales and miners
Read more »

Bitcoin Miners Are Capitulating: What's Happening?Bitcoin miners are capitulating, suggest numerous on-chain charts; however, things may take different turn in future
Read more »