News+

Some bitcoin miners have suffered amid the recent market turmoil, but here's why it may be a boon in the long-term

Quick Take

  • Some crypto miners felt the financial burn during the recent bitcoin price crash – at one Chinese lending desk, as many as 90% of miner clients got margin called
  • As some miners were forced to shut down their equipment, network hashrate has dropped, triggering a 15% to 16% correction in network difficulty that’s expected to take place on Wednesday
  • However, some industry participants believe that the current situation may be a long-term boon for the mining market.
The crypto market's recent turbulence has hit the mining industry hard, especially those who have borrowed ahead of this year's reward halving. However, not all hope is lost.

Subscribe to The Block News+ to
Unlock this Feature

Choose Your Plan

Save $ vs. paying monthly

Annual

$
per year
Join Now

Monthly

$
per month
Join Now

Questions?

If you want to know more about what you get with a Membership, or you need help convincing your manager, we got you covered. You can find the details and learn more about the benefits by clicking the link below.

Trending Stories

More