• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Thursday, September 11, 2025
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Bitcoin tumbled after ETFs launched. What it means for crypto miners

14 January 2024
in Mining
Reading Time: 3 mins read
A A
0
Bitcoin tumbled after ETFs launched. What it means for crypto miners
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT

Investors in bitcoin mining stocks are closely watching the price of the cryptocurrency after the Securities and Exchange Commission’s move to allow spot bitcoin ETFs became a sell-the-news event. After the ETFs received regulatory approval last week, the flagship currency briefly touched $49,000. As the week went on, however, bitcoin wiped out its earlier gains and notched a modest weekly loss of 0.01%. Crypto mining companies are now feeling the squeeze in this latest bitcoin sell-off – and that’s evident in the big week-to-date declines for Marathon Digital and Riot Platforms , both of which lost more than 20%. First, the hash rate – the amount of computing power the Bitcoin network uses to process transactions – has been hitting all-time highs almost every week and hurting miners’ margins, according to Reginald Smith, analyst at JPMorgan. The network hash rate has increased more than 30% over the last four months, he said, rising alongside bitcoin’s 157% ascent in 2023. Second, investors are watching bitcoin’s price in the wake of the ETFs’ debut because if the crypto doesn’t rise to a range of $50,000 and $55,000 soon, smaller miners may not have sufficient capital to grow and may have difficulty maintaining their operations. “Miners who are at the lower end of the cost curve with limited amounts of debt and plenty of liquidity between bitcoin and cash on their balance sheets are going to be ones that fare the best in 2024,” said Chase White, an analyst at Compass White. “But it could be a hard time in the middle of the year as miners play the prisoner’s dilemma game of who needs to turn off their machines and who doesn’t.” “The older, less efficient miners are way less profitable, but they’re still just profitable enough to stay online, hurting everybody’s margin,” he said. “If [the bitcoin price] gets to $45,000 or below only the newest, most efficient miners with the … lowest cost power are going to be able to stay online.” A dynamic in focus This dynamic between the bitcoin price and the mining companies is coming into focus in anticipation of the Bitcoin halving, when the reward for mining the flagship crypto is cut in half, as designed in the Bitcoin code, to reduce its supply. Because of the supply cut, the halving historically sets the stage for big price rallies in the following six to nine months. However, the reduction in the reward also means miners’ revenue takes a hit. Overall, analysts are fairly optimistic that bitcoin will rise as expected due to three key catalysts: the ETF, the halving and potential interest rate cuts. “The catalyst of the ETF and, a little bit later in the year, the potential for rate cuts, could lead bitcoin to run a lot faster than the global hash rate can run, which could alleviate a lot of this problem,” White said. “But it needs to rise above $50,000 for that to be the case, and we think we can get there.” Compass White’s year-end price target right now for bitcoin is $75,000. White said private miners will likely struggle the most because it’s harder for them to access capital than the publicly traded miners, which can sell stock in at-the-market programs. He named Riot Platforms, Iris Energy , Cipher Mining and Bitfarms as some of his picks. JPMorgan’s top pick is Iris Energy. The firm is neutral on Cipher, CleanSpark and Riot, although Smith said he’s incrementally constructive on Riot, which is more actively traded and he sees as a long-term winner. Last week, Iris Energy and Cipher dropped more than 16% each. In a note earlier in the week, Smith suggested there may be weakness after the ETF approval – likely driven by technical selling pressure, rather than fundamental miner economics, since institutional investors now have other ways to express a view on bitcoin with the introduction of ETFs. “We would view any sell-off [in mining stocks] as a buying opportunity, as the ETF does not directly impact mining economics or change competitive dynamics, and we remain bullish on bitcoin and bitcoin miners in 2024,” he wrote.

Cryptohopper
ADVERTISEMENT

Source link

Related articles

No, Russia did not just lift its ban on domestic crypto use

No, Russia did not just lift its ban on domestic crypto use

30 July 2024
New US Bitcoin Mining Hardware Creates B Opportunity, Could Disrupt China’s Mining Dominance: Bernstein – Canaan (NASDAQ:CAN)

New US Bitcoin Mining Hardware Creates $20B Opportunity, Could Disrupt China’s Mining Dominance: Bernstein – Canaan (NASDAQ:CAN)

30 July 2024
[crypto-donation-box]
Tags: BitcoincryptoETFslaunchedmeansMinerstumbled
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

BlackRock’s Total BTC Holdings Revealed

Next Post

Solana replaces XRP in Hong Kong’s top five crypto index By Investing.com

Related Posts

No, Russia did not just lift its ban on domestic crypto use

No, Russia did not just lift its ban on domestic crypto use

30 July 2024
0

A fake news story circulated today about Russia’s supposed embrace of bitcoin mining and crypto payments. According to excited social...

New US Bitcoin Mining Hardware Creates B Opportunity, Could Disrupt China’s Mining Dominance: Bernstein – Canaan (NASDAQ:CAN)

New US Bitcoin Mining Hardware Creates $20B Opportunity, Could Disrupt China’s Mining Dominance: Bernstein – Canaan (NASDAQ:CAN)

30 July 2024
0

A new report estimates a $20 billion revenue opportunity in Bitcoin BTC/USD mining chips and hardware over the next five...

Russia Races to Legalize Crypto as Sanctions Weigh On Firms – BNN Bloomberg

Russia Races to Legalize Crypto as Sanctions Weigh On Firms – BNN Bloomberg

30 July 2024
0

(Bloomberg) -- Russia is moving to regulate the use of cryptocurrencies, as companies wrestle with increasing difficulties in foreign payments...

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

30 July 2024
0

The Russian central bank plans to initiate international payments in cryptocurrencies by the end of the year to overcome delays...

Wall Street Bitcoin Miner Taps Institutional Investor for £6.5 Million Capital Boost

Wall Street Bitcoin Miner Taps Institutional Investor for £6.5 Million Capital Boost

30 July 2024
0

Listed both on Wall Street and the London Stock Exchange (LSE) Bitcoin miner Argo Blockchain, has announced a £6.5 million...

Load More
Next Post
Solana replaces XRP in Hong Kong’s top five crypto index By Investing.com

Solana replaces XRP in Hong Kong's top five crypto index By Investing.com

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Big Solana News: Latest Developments Could Ignite Major Price Surge – TechFinancials

Big Solana News: Latest Developments Could Ignite Major Price Surge – TechFinancials

11 September 2025
Why New Crypto Investors Favour Backing Layer Brett Over Solana In September

Why New Crypto Investors Favour Backing Layer Brett Over Solana In September

11 September 2025
ADA Price Holds Key Support Despite 0M Whale Sell-Off

ADA Price Holds Key Support Despite $140M Whale Sell-Off

11 September 2025
Here’s why Bitwise is tipping Solana for an end-of-year rally. And what could stall it – Yahoo Finance

Here’s why Bitwise is tipping Solana for an end-of-year rally. And what could stall it – Yahoo Finance

11 September 2025

About Us

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Big Solana News: Latest Developments Could Ignite Major Price Surge – TechFinancials
  • Why New Crypto Investors Favour Backing Layer Brett Over Solana In September
  • ADA Price Holds Key Support Despite $140M Whale Sell-Off
  • Here’s why Bitwise is tipping Solana for an end-of-year rally. And what could stall it – Yahoo Finance
  • BNB Hits New All-Time High Above $907 Amid Strong Futures Activity – Coinspeaker

Subscribe Now

Our Partner

Round Main Logo
  • About Us
  • Privacy Policy
  • Contact Us

© 2022-2025 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin (BTC) $ 114,325.00
  • ethereumEthereum (ETH) $ 4,420.92
  • xrpXRP (XRP) $ 3.00
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 895.70
  • solanaSolana (SOL) $ 227.97
  • usd-coinUSDC (USDC) $ 0.999813
  • staked-etherLido Staked Ether (STETH) $ 4,411.90
  • dogecoinDogecoin (DOGE) $ 0.248515
  • tronTRON (TRX) $ 0.345664
  • cardanoCardano (ADA) $ 0.880671
  • wrapped-stethWrapped stETH (WSTETH) $ 5,353.58
  • chainlinkChainlink (LINK) $ 23.63
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,760.85
  • hyperliquidHyperliquid (HYPE) $ 54.94
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 114,478.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • suiSui (SUI) $ 3.61
  • stellarStellar (XLM) $ 0.388892
  • figure-helocFigure Heloc (FIGR_HELOC) $ 0.993547
  • avalanche-2Avalanche (AVAX) $ 29.03
  • wrapped-eethWrapped eETH (WEETH) $ 4,748.85
  • bitcoin-cashBitcoin Cash (BCH) $ 590.25
  • wethWETH (WETH) $ 4,419.28
  • hedera-hashgraphHedera (HBAR) $ 0.234853
  • leo-tokenLEO Token (LEO) $ 9.57
  • litecoinLitecoin (LTC) $ 114.20
  • crypto-com-chainCronos (CRO) $ 0.255209
  • the-open-networkToncoin (TON) $ 3.18
  • usdsUSDS (USDS) $ 0.999841
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 114,403.00
  • polkadotPolkadot (DOT) $ 4.18
  • whitebitWhiteBIT Coin (WBT) $ 43.42
  • uniswapUniswap (UNI) $ 9.82
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.200228
  • ethenaEthena (ENA) $ 0.763357
  • mantleMantle (MNT) $ 1.61
  • moneroMonero (XMR) $ 269.31
  • aaveAave (AAVE) $ 303.68
  • bitget-tokenBitget Token (BGB) $ 4.86
  • daiDai (DAI) $ 0.999965
  • pepePepe (PEPE) $ 0.000010
  • okbOKB (OKB) $ 194.63
  • bittensorBittensor (TAO) $ 354.08
  • nearNEAR Protocol (NEAR) $ 2.70
  • jito-staked-solJito Staked SOL (JITOSOL) $ 280.07
  • memecoreMemeCore (M) $ 1.96