Bitcoin

<a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> are facing hard times as BTC's price recorded its steepest drop of 2023 last week. According to Glassnode, total transaction fees paid to miners plunged to a new 5-month low of $21,256, exacerbating their woes, according to <a href="https://ambcrypto.com/bitcoin-the-woes-of-btc-miners-continue-as-prices-crash/" rel="noopener noreferrer nofollow">ambcrypto</a>.&nbsp; 
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With an 11% loss in value, the king coin's price crash has significantly dented miners' earnings, affecting their liquidation plans. Consequently, miners are now hoarding more BTC, awaiting a price rebound. However, the overall Bitcoin <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> continues to trend upward, reflecting a commitment to the network's security. Despite this positive sign, the falling revenue threatens less-efficient miners, who might be forced to shut down their rigs, potentially affecting the blockchain's decentralization. This scenario illustrates the fragile equilibrium between the growth and the economics of the cryptocurrency world. 
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Bitcoin’s Rocky Road: Miners Struggle with Earnings Drop Amid BTC Price Crash

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