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Bitcoin [BTC] miners see green: Will there be a relief in selling pressure
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In the latter half of 2022, many Bitcoin [BTC] miners were facing the heat as the king coin’s prices kept decreasing. The costs of energy and machinery were causing them to sell their BTC to remain profitable. However, as the prices of BTC surged, mining started turning profitable.
Read Bitcoin’s [BTC] Price Prediction 2023-2024
According to Glassnode’s data, after BTC crossed the $26.1k threshold, efficient cohorts of miners earned a 2x premium on their mining rigs. This surge in BTC’s price created a positive environment for miners, and many have earned more revenue.
<p lang=«en» dir=«ltr» xml:lang=«en»>#Bitcoin prices are now trading above the estimated cost of production model for a post-halving environment Read more on ambcrypto.comAbout this in other media
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