Bitcoin, the pioneering cryptocurrency, is currently navigating through turbulent waters, marked by significant price volatility that has far-reaching implications for its ecosystem. One critical area feeling the brunt of these fluctuations is Bitcoin mining, where recent data reveals a stark decline in miner revenue, highlighting broader challenges within the industry.
The Current State of Bitcoin Miner Revenue
Bitcoin’s price has recently settled around the $62,880 mark, reflecting a period of sustained downward pressure in the market.·
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