Upside As Bitcoin Miners Lose $14 Billion – Bitcoin Magazine

Bear market woes continue for miners as bitcoin’s price sits 70% off its record highs. But hope springs eternal.


Public mining companies are entering the final quarter of 2022 battered and bruised after nine months of bear market brutality. At the end of Q3, the total market values of all U.S.-listed mining companies dropped by over $14 billion from the start of the year, according to data compiled from YCharts. Whether the year’s end will offer a respite for these companies is a very open question as the headwinds from macroeconomic tumult seem unabated in the face of historic inflation and scrambling central bankers desperate for quick financial fixes. This article overviews the downtrend in share prices for public mining companies as the final quarter of the year begins.





Source link

You May Also Like