đ#BitcoinHash Ribbons Signal End of Miner Capitulation! đ
- The Hash Ribbons indicator uses the 30- and 60-day MAs to measure the difficulty and financial challenges for miners.
- When the 30-day MA crosses the 60-day MA, miners switch to more efficient equipment and return to the market.
- This is usually a sign that BTC prices have bottomed, an opportunity for investors to buy.
đ„ BTC mining difficulty hit an all-time high on August 1: 90.66T, then slightly decreased to 86.8T.
- The increased difficulty reduced miner profits, hashprice dropped below $36 PH/s, then recovered to $40 PH/s.
đ BTC Miners Turn to High-Performance Computing and AI
- TeraWulf Expands to AI Data Center at Lake Mariner, Allocating 2 MW of Power.
What do you think about this trend? Comment below! đ
