Bitcoin miners are facing increased pressure as the ongoing energy crisis continues to squeeze profits. This financial strain could potentially lead to a new wave of Bitcoin selling if miners are unable to sustain operations under current conditions.
In the decentralized finance (DeFi) sector, attackers from two protocols have collectively purchased $28.56 million worth of Ethereum, highlighting ongoing market volatility. Additionally, a significant Ethereum whale has acquired 8,662 ETH, valued at $18.05 million, over the past month. Meanwhile, the stablecoin USR has depegged by 93.72%, trading at 0.053 USDT, prompting the suspension of its market and assurances of compensation for any bad debt losses.
Energy Crisis Squeezes Bitcoin Mining Profits Amid Market Volatility
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
