Coin Citadel (CCTL)

[I-Glow]

"Bitcoin Mining is Experiencing a Significant Decline After its Value Plummeted from $139 to $57

Bitcoin mining, once a lucrative endeavor for digital prospectors, is facing an unprecedented downturn in profitability. Recent data from Bloomberg has revealed a stark decline, bringing the industry close to its least profitable period since the aftermath of the FTX collapse. This analysis delves into the factors contributing to the mining malaise and explores how companies like Marathon Digital Holdings Inc. are adapting to these harsh new realities.

A Deep Dive into the Numbers

Just after the halving event, the Bitcoin hashprice saw a brief spike to $139, largely driven by increased transaction fees linked to activities on the Rune protocol on Bitcoin’s blockchain. However, this uptick was fleeting. As transaction fees normalized and mining difficulties escalated, the hashprice plummeted to a mere $57, perilously close to the November 2022 low of $55.

The Big Players Versus the Small: A Widening Gap

The current profitability crunch is creating a bifurcated landscape in Bitcoin mining. Large-scale operations like Marathon Digital Holdings and Riot Platforms Inc. have somewhat cushioned themselves against the harsh economic winds by investing heavily in mining infrastructure and advanced technologies."

CCTL doesn't have any mining equipment - has a CE and is listed as a Shell Risk.

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