BTC’s ‘bear market’ hashrate; IREN done with mining by year’s end

Homepage > News > Business > BTC’s ‘bear market’ hashrate; IREN done with mining by year’s end The BTC network’s falling hashrate might be good for block reward miners who resist the urge to ‘pivot to AI,’ but the mining sector’s widespread ‘capitulation’ shows no sign of letting up. Hashrate bear market: a good thing? Rogue miner sparks Oklahoma anger, voters protest data center water use Cango gets out of NYSE’s doghouse IREN says it will be out of mining by year’s end Hyperscale shuts Michigan mining site, plots ‘blockchain ecosystem’ Long-suffering block reward miners who thought the BTC token’s recent upward surge had already peaked were offered new hope on Thursday as the token rebounded from Wednesday’s dip to $76,300 by surging close to $82,000. As always, it wasn’t clear precisely what lit the fire under BTC, but theories include Federal Reserve Gov. Chris Waller saying he’s not in favor of raising interest rates at the Fed’s meeting later this month. There’s also the U.S. Treasury Department’s announcement of another $12.5 billion debt buyback (with new debt) and the doubling of its liquidity support buybacks from $2 billion to $4 billion. (We know BTC isn’t tech...