Amid miner capitulation, Hut 8 maintained BTC ‘HODL strategy’ in July
Other Bitcoin miners such as Core Scientific, Argo Blockchain and Riot Blockchain have reduced their BTC holdings during the bear market. Canadian Bitcoin (BTC) miner Hut 8 Mining Corp. added to its massive BTC reserves in July, as the firm maintained its long-term “HODL strategy” in the face of market volatility.The Alberta-based company generated 330 Bitcoin in July at an average production rate of 10.61 BTC per day, bringing its total reserves to 7,736 BTC. Its monthly production rate was equivalent to 113.01 BTC per exahash, the company disclosed Friday.Hut 8, which trades on the....
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Miner capitulation is here. Core Scientific talks about potential bankruptcy, highlighting that cash resources will be depleted by the end of the year.
An excerpt from Bitcoin Magazine's Deep Dive: How Bitcoin miner capitulation is driving the bitcoin price down.
It may be as soon as August that miners start returning, and difficulty is already planning an uptick. Bitcoin (BTC) miners have been capitulating for almost two months, but an end to the squeeze could already be here.That was the conclusion from Blockchain infrastructure and cryptocurrency mining firm Blockware as it published its latest Intelligence Newsletter on July 29.Report: “Expect” capitulation to be done by SeptemberThe most recent edition of the market research series highlighted changes in the mining ecosystem apt to switch up a trend in place since early June.Miners, judging by....
Every crypto bear market has seen Bitcoin miner operations capitulating to stay financially afloat. This capitulation often marks a bottom for BTC and the crypto market, allowing it to consolidate before breaking into new highs. Related Reading: RockItCoin Buys Toa Bitcoin That Houses Over 50 ATM Machines Across The U.S. However, the current Crypto Winter […]
Analyzing the changes in average hash rate to measure miner capitulation in the bitcoin market can be a market indicator for miner capitulation.