{"id":12631,"date":"2022-08-01T07:49:17","date_gmt":"2022-08-01T07:49:17","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-miner-capitulation-due-to-end-amid-1st-difficulty-increase-since-june\/"},"modified":"2022-08-01T07:49:19","modified_gmt":"2022-08-01T07:49:19","slug":"bitcoin-miner-capitulation-due-to-end-amid-1st-difficulty-increase-since-june","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-miner-capitulation-due-to-end-amid-1st-difficulty-increase-since-june\/","title":{"rendered":"Bitcoin miner capitulation due to end amid 1st difficulty increase since June"},"content":{"rendered":"
Bitcoin (BTC) miners have been capitulating for almost two months, but an end to the squeeze could already be here.<\/p>\n
That was the conclusion from Blockchain infrastructure and cryptocurrency mining firm Blockware as it published its latest Intelligence Newsletter on July 29.<\/p>\n
The most recent edition of the market research series highlighted changes in the mining ecosystem apt to switch up a trend in place since early June.<\/p>\n
Miners, judging by the hash ribbons metric, have been retiring for an \u201cextended period of time,\u201d Blockware says, and as of Aug. 1, hash ribbons have been signaling capitulation for 55 days.<\/p>\n
\u201cThe current miner capitulation began June 7th, 2022, and it has lasted a significant amount of time. It\u2019s important to note that miner capitulations are particularly relevant because it reveals that a large number of machines are no longer hashing,\u201d the firm wrote:<\/p>\n
\u201cSince June 7th, other new generation mining rigs have likely been plugged in by both public and private mining companies. However, enough old generation machines or inefficient overleveraged miners have shut off, that hash rate and difficulty have actually decreased in size.\u201d<\/p><\/blockquote>\n