Cryptocurrencies
With Bitcoin Sinking, Crypto Miners Just Dig Deeper
- Rising hash rate shows many miners are still making a profit
- Smaller miners are getting squeezed out at $6,000 price level
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With Bitcoin declining this year, you might expect mining activity to follow. That hasn’t happened.
The combination of falling prices and a rising hash rate -- which measures computing power -- shows how complex the economics of cryptocurrency mining are. An increasing hash rate means Bitcoin mining is still profitable enough for many players to stay put, defying speculation that prices have fallen past break-even points.