Natalia Koval (nataliakoval)

https://www.youtube.com/shorts/CDvcMlfrKWc

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Bitcoin (BTC) miners continue to capitulate as the network’s hashrate faces its worst downtrend since 2022. The activity started giving signs of capitulation in the past few months, a situation that looms over the cryptocurrency‘s security. As reported by Finbold on June 14, Bitcoin miners have signaled capitulation with a two-year low of their BTC reserves. The report also highlighted how the average production cost has been higher than the resulting revenue, with companies operating underwater. Now, the network hashrate data, which indicates the activity’s production rate, continues to downtrend in a worrying pattern. In particular, data from mempool.space shows a sequence of two lower highs after April 27’s peak of 639 EH/s.

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have a nice day

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Hello all!

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