Mining and Energy Prices
I don't know about the correlation of energy prices and BTC/crypto affects right now, but as general thought and understanding, those who are mining using paid electricity from the system will most probably shut off their miners. Logically. If not now, then definitely when winter is on full swing around Nov-Dec-Jan etc. In parts of EU where renewable electricity works reliably in winter, they might keep mining using that, but I heard (80% to 60% down compared to rest of the year?) renewable energy is significantly down in winter times there. It'll not just affect the BTC but altcoin markets too. Stakers gonna keep staking as that's cheap.
Market is also fearful with prices increased for everything else a lot more than past years and crypto being the riskiest asset class getting sold first thing by market, for mindful miners and investors, 2022 has been the year to preserve what they have .
Leave Mining and Energy Prices to:
Best Posts From anditsgone
We have not curated any of anditsgone's posts yet. But you can encourage our curation team to review posts by visiting them regularly and by referring other readers. Because we give priority to frequently read content.