54 sats \ 3 replies \ @0xbitcoiner 4 Jun \ on: Bitcoin miners sink millions into AI businesses, seeking billions in return bitcoin
I wouldn't say it's dying, but the drop in revenue is evident after the halving. Miners need the price of bitcoin to rise, otherwise some will have to stop, at least those who can't get cheap energy prices.
Yes. This particular company has been in trouble for a few years. If I'm not mistaken there is always a shakeout post halving. Bigger picture, I would rather see a more decentralized mining industry anyway, like most of us.
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but the drop in revenue is evident after the halvin
Price did a 4x over the last two years. Miners who aren't profitable now weren't profitable two years ago, one year ago, etc. Miners who can't deal with something they knew would happen should probably get into a different business.