Unprofitable: miners sell BTC

  • Elena Klimovich
  • 14:11 Jun 02, 2022
  • 877
Unprofitable: miners sell BTC

According to CoinDesk information, one of the reasons for the crypto market declining was miners. They began to sell their crypto reserves. By the way, a lot of operations were realized by using loans and investments.

Since the end of 2021 the situation has worsened. Lot of investors left the market because of the politics of the governments and increasing the regulation measures. Americans indexes lost in 6 month about 20% and the whole cost of cryptocurrency down at 65%/

In the case of investments withdrawals miners have to sell their tokens at low rates. Companies must pay for equipment by the previous contracts and continue to finance the building of the new crypto-farms.

Except for all these troubles, miners faced the inflation processes and increased the prices on the electricity. According to the Cryptomonday data expenses for electricity may reach 75% of the income. These all make the work for small and middle miners impossible.

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