The miners have faced a brutal crypto winter as their revenue is directly correlated to the price of bitcoin. At the depth of the bear market, many large miners, such as Core Scientific (CORZ), went bankrupt, and others barely hung on. However, the recent rally in bitcoin price, helped by the spot bitcoin ETF, has helped the mining economics and even seen companies, such as Core, coming out of bankruptcy.
Related posts
-
Florida lawmaker pitches ‘Bitcoin for Taxes’ bill
A Florida lawmaker has introduced a bill that would greenlight Bitcoin as an approved payment method... -
Analysis of Long-Term ‘Diamond Hand’ Bitcoin Holders Reveals Market Insights: Glassnode
Recent data from Glassnode provides a detailed analysis of bitcoin’s long-term holders (LTH) and their impact... -
Nubank adds support for Bitcoin Lightning Network transactions
Nu Holdings (Nubank), a digital bank with a massive presence in Latin America, has struck a...