Can BTC Miners Survive Amid Bitcoin Price Drop?

Bitcoin Worth has proven some indicators of restoration amid the elevated uncertainty within the crypto market. BTC value is up by over 4% within the final 30 days. Nevertheless, Bitcoin Miners are feeling the warmth proper now as their revenue margin is in fixed collapse.

Will miners’ dumps have an effect on Bitcoin value?

As per a report, the common price of mining one Bitcoin went on to the touch $19,4623 on December 15, 2022. On the similar time, Bitcoin value traded at round $17,800 value stage. This straight depicts the common loss confronted by the miners due Bitcoin value drop.

Information reveals that the loss for the miners started on June 12, 2022, when Bitcoin value dropped to $26,700. At that interval the common value of mining one BTC stood round $29,450.

Nevertheless, the identical state of affairs occurred when the BTC value bottomed in March 2020. The mining price went increased than the worth of Bitcoin.

Earlier, Coingape reported that the Bitcoin Miner Hash value dropped to a brand new all time low. The hash value went on to face at $58.3K per Exahassh per day whereas Bitcoin value went down by 76% from its ATH.

Bitcoin is buying and selling at a median value of $17,492, on the press time. BTC value is down by 4% within the final 24 hours.