- Ah, the costs of Bitcoin mining have galloped past the $70K mark, leaving miners gasping for breath!
- It appears our dear institutional miners are selling their treasures off the books, like sneaky little foxes! 🦊
Oh là là! The art of Bitcoin mining has become a most extravagant affair! 💸
To extract a single Bitcoin, one must now part with over $70,000—an amount that exceeds the very value of the coin itself! What a delightful irony! 🎭
This delightful spike, driven by soaring energy costs and the meager rewards post-2024 halving, is squeezing the miners tighter than a corset at a Parisian ball! Can they survive this tempest, or are we witnessing the grand capitulation of our beleaguered miners? 🤔
Miners are paying more than ever, while making less than before
According to the wise sages at MacroMicro, the average cost to mine a Bitcoin has leapt above $70,000, while the price of BTC dances precariously close to that figure. A most curious gap indeed, reminiscent of a tragicomedy! 🎭
The chart reveals a tale of woe: while prices remain as flat as a pancake, mining expenses have soared post-halving, squeezing profits to the point of near extinction! 🥞
For many miners, it is now a game of survival, akin to a tightrope walker without a net. Unless Bitcoin performs a miraculous leap, the smaller operations may find themselves in dire straits! 😱
Hashrates high, reserves low
Despite the shrinking profit margins, Bitcoin’s hashrate remains as high as a kite! 🎈 Miners are doubling their efforts, striving for efficiency as if their lives depended on it—oh wait, they do!
While the mining rigs toil like industrious ants, the reserves of Bitcoin held by miners tell a different, rather sad tale. 📉
According to the wise oracles at CryptoQuant, the USD value of miner-held BTC has plummeted since March, even as Bitcoin’s price has been on the rise. A most perplexing riddle! 🧩
This suggests that our miners, in a fit of desperation, may be cashing out to cover their ever-increasing operational costs. What a tragic comedy of errors! 🎭
Whale moves hint at off-exchange activity
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2025-06-17 23:11