Many bitcoin miners, who expanded operations in 2021 to capture more profits, are now struggling as the crypto’s price crashed.
The bitcoin mining industry’s daily revenue plummeted to $18 million from a peak of $62 million in November, when the largest crypto reached an all-time high, according to a Tuesday note by analysts at Arcane Research.
“The biggest cost historically for bitcoin miners has been their energy source,” Sami Kassab, analyst…
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