Bitcoin Miners Back in the Black: Bitfinex Alpha Report Reveals
After operating at a loss since the mid-April Bitcoin halving, miners are finally turning a profit again. This unsustainable period has come to an end, thanks to equipment upgrades that have reduced operational costs and boosted efficiency. As a result, the Miner Profit Sustainability metric is on the rise, stabilizing miners' financial positions and potentially positively impacting the crypto market.By reducing the need to sell BTC holdings to cover operational costs, miners are likely to decrease their sell-side pressure, which has been a significant contributor to market volatility since April. Historically, miners have been a major source of selling pressure after each Bitcoin halving, but their influence has diminished over time due to decreasing block rewards.#BitcoinMiners #CryptoMarketTrend #BitfinexAlpha #MiningOperations