Consensus War Update: BTC Hash Rate ATH (BTC Miners Sell Off as Prices Fall, Expenses Rise)

Soaring #energy costs and climate goals are gradually drawing the Biden administration’s attention towards the toll that the mining of Bitcoin and other cryptocurrencies is having on the environment. #Bitcoin miners are making drastic changes in behavior as the market has repriced BTC to less than 50% of the all-time high it reached last year. Historically, #miners sold to meet expenses, but many were habitually holders. This is changing as BTC prices plummet, and energy prices, one of their primary expenses, drastically increases.

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