💀 Bitcoin miner consolidation increases risk of more crypto mayhem
Most miners are only profitable when bitcoin ($BTC) trades above $4,500. It hasn’t closed above that level since Nov. 19. As a result, at least 100,000 individual bitcoin miners have shut down, according to Autonomous Research LLP. Fundstrat Global Advisors LLC estimates that about 1.4 million servers have been unplugged since early September.
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