Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector.
It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount.
Current mining activity shares similarities to historic BTC bear markets with a few caveats.
Let’s explore what this means for the current Bitcoin cycle….
Source link
