Tracking Bitcoin Price And Mining Market

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Bitcoin price fluctuations matter to miners more than they do to almost any other demographic of bitcoin investors because of the price’s effect on mining hardware markets. Regularly checking the price can often be counterproductive for long-term, diamond-handed HODLing, but the dollar value of bitcoin is important to any mining operation, especially for miners that are planning to acquire more hash rate.

A lower bitcoin price usually means slightly discounted prices on mining hardware for reasons explained in this article. With bitcoin still sitting nearly 40% off its latest all-time price high at the time of this writing, the prices for mining hardware have started to drop. This article explains the idiosyncrasies of the mining hardware market and its relationship to bitcoin, and it summarizes the mining market’s status quo amid a generally less frothy cryptocurrency market and the opportunities cheaper mining hardware could present.

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