📢Crypto analyst James Check reports a 5% struggle in Bitcoin mining due to rising operational costs & lower rewards. Not a "complete and total firesale" but miners are likely distributing holdings to stay afloat. 📉

Hash ribbon inversion is happening, folks! 30-day moving average of the hashrate is below the 60-day one, indicating a period of mining difficulty. 🎢

Post-Bitcoin halving, unprofitable rigs are being turned off, causing a decline in hash rate. Miners might be just breaking even, mining new Bitcoins to cover operational costs.💸

Checkmatey also noted that transaction fees are becoming a major part of miner revenues. Time to adapt, innovate, and manage capital efficiently, miners! 💡

What's your take on this? Are we seeing the dawn of a new era in Bitcoin mining? Let's chat in the comments! 🗨️ #DeFi #Web3 #Technology