throughout 2022 and on-chain data shows Bitcoin miner accumulation began to increase in December 2022 and momentum appears to be continuing into 2023.which saw BTC price hit a yearly high of $22,153 on Jan. 20, a 17% 7-day increase, has significantly helped BTC mining operations.
BTC hashprice, a metric that measures the market value of mining or computing power, provides insight into Bitcoin mining operations’ profitability. Although Bitcoin mining profitability has improved since the start of 2023, the industry is still facing rough waters ahead. According to Nico Smid, co-founder of Digital Mining Solutions:
Chop city. Say it with me now y’all. Chop chop city bitch.
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