After a rough 2022, bitcoin mining is swinging upward, as CoinDesk analyst George Kaloudis writes. The bear market that sapped prices and publicly traded miners’ stocks tumbling has lessened this year. Crypto mining is now mostly healthy. Bitcoin network’s hashrate, a measure of the amount of computing power committed to running the network, shows a bountiful capacity with which to run crypto’s premier network. As of July 21, Bitcoin’s hashrate was 400 exahash per second, up five-fold from June 2021. And a number of miners have returned to report healthy margins, especially those that have access to cheap energy like TeraWulf (WULF) and CipherMining (CIPHER), whose gross margins in Q1 2023 exceeded 60% (see below).
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...