💥💥Week Outlook: Competition Between Miners Is Heating 💥💥

According to F2Pool's data, with current Bitcoin prices, many mining devices have started operating at a loss.

Only 5 ASIC models are still profitable at these prices. This situation causes miners who do not have sufficient liquidity to stop their operations, rent their processing power to artificial intelligence companies, or look for alternative solutions.

Most recently, Genesis Digital mining company's plan to go public aims to stay strong in the market by acquiring new devices. The move is seen as part of miners' efforts to raise capital to maintain their sustainability.

Bitcoin's stop accepting payments by Elon Musk due to environmental concerns and Ethereum's transition to PoS infrastructure discredited PoW (Proof of Work) infrastructures. However, Marathon's start of Kaspa mining indicates that PoW-based cryptocurrencies may start to gain interest again. Low rewards and high competition, especially after the halving, increase the search for income diversity for miners.

Rumors among VCs that the SEC is investigating investments related to cryptocurrencies create uneasiness in the industry. VCs' investments and political influence in crypto projects could be critical to the future of the industry.

Games and meme culture on Telegram offer a new platform for crypto projects to increase their engagement with communities. This platform can also be used to test the performance of networks and increase user engagement.