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Record Bitcoin Mining Despite Bear Market

Bitcoin could also be in a bearish market, however the mining trade is rising larger than ever. Bitcoin mining problem set a brand new document excessive for the sixth time this 12 months on Tuesday, reaching 31.25 trillion, in accordance to mining knowledge from Braiins. The 4.89% adjustment was the third-largest improve this 12 months.

Even although the main cryptocurrency’s value has dropped sharply by way of April and May and continues sitting over 50% below its all-time excessive from late 2021, the mining trade’s development is not slowing. Traditional traders, retail patrons, and even day merchants could also be bearish on bitcoin, however miners are not. This article unpacks a number of the knowledge that demonstrates the mining sector’s development regardless of bitcoin’s present bearish market situations.

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