“The bitcoin mining market deteriorated during the third quarter, as the bitcoin price fluctuated and further dipped to around sixteen thousand dollars recently,” CEO Nangeng Zhang said in the statement. “The negative market dynamics have significantly hindered bitcoin miners’ revenues and cash flows. As miners are forced to cut their demand for computing power, we had to adjust down our selling price in response.”
Related posts
-
Volatility Expected in Bitcoin Later Today as US Headline Inflation Data Is Expected to Tick Higher
The concern of inflation not being slayed can be shown in the U.S. yields, which have... -
Bitcoin trading volume hits new all-time driven by retail demand
Bitcoin, the world’s largest crypto asset, hit a record-high trading volume after the cryptocurrency reached a... -
Bitcoin (BTC) Price Rally Hits a Wall at $90K Resistance While FX Traders Back the Dollar Index (DXY) Bull Run
It’s completely normal for such a pause to occur after a staggering $20,000 price surge in...