However, it’s not all doom and gloom. With weaker miners squeezed out, the survivors are set to thrive, according to Chris Brendler, an analyst at Wall Street investment bank DA Davidson. “Miners with higher power costs, less efficient operations, and/or leverage have underperformed while the strongest positioned are set to thrive as the “crypto winter” is already squeezing out disadvantaged players,” said Brendler.
Related posts
-
Bitcoin Mega Whales Are Buying, Time For Rally To Return?
On-chain data shows that the largest number of investors in the Bitcoin market are finally buying,... -
Bitcoin Rally Holds Around $63,700 Following 4th Block Reward Halving
But this time, bitcoin has already embarked on a momentous rally to record highs, rising from... -
Bitcoin just completed its fourth-ever ‘halving,’ here’s what investors need to watch now
The Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the...