🔍 In August, the computing power of Bitcoin miners increased, but the miners’ income hit a new low! 🚨
Recently, there have been some noteworthy changes in the Bitcoin mining community. First, although the computing power of Bitcoin miners increased in August, the price of Bitcoin did not rise significantly, which caused the profits of miners to fall to record lows in the first half of August.
If this trend continues, those mining companies that mismanage their funds may be at risk of being eliminated. Some market analysts also believe that as less efficient miners gradually withdraw, it may pave the way for the next round of rise in Bitcoin prices.
In addition, it is worth noting that U.S. Bitcoin miners currently account for 26% of the global computing power, a proportion that has reached a record high in the U.S. Bitcoin mining industry. As the presidential campaign promotes Bitcoin-related issues, the US market is expected to become more friendly towards cryptocurrencies. Coupled with the increase in hash rate this month, it is predicted that the United States will account for 10% of global Bitcoin mining in the future. Share is also likely to continue to grow.
However, the decline in miner income may also bring some knock-on effects. For example, since the Bitcoin halving, the output of new coins has decreased. If the currency price continues to not rise, miners' profits will be greatly discounted, which makes miners with poor financial conditions face greater operating pressure. Although we have discussed the possibility of mining company closures before, we have not yet seen large-scale miners exit the market.
Therefore, the next few weeks will be very critical, and we will need to pay close attention to whether there are any news about the collapse of large mining companies because they cannot continue to operate. If this happens, the Bitcoin market may be at risk of one last major decline, which is a key factor that all investors need to pay attention to.
💬What are your views on the decline in Bitcoin miner income and the increase in US miner computing power? In the current market environment, do you think investors should buy aggressively or appropriately adjust their investment strategies? Share your views in the comment section!
