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Crypto Markets Experience Biggest Miner Selling Pressure Since January 2021

By Simon LawsonNovember 14, 20221 Min Read
Crypto Markets Experience Biggest Miner Selling Pressure Since January 2021
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The FTX bankruptcy sparked a persistent market downturn. The market has experienced its biggest one-day miner selling pressure since January 2021, with the average hash price hitting $0.05 in November 2022, according to data analyzed by CryptoSlate.

Bitcoin’s current price of $17,500 makes mining unprofitable not only for small miners, but also for larger ones.

Around $9000 per Bitcoin miner, the latest Bitmain S19Pro ASIC miner has a 1500-day payback period and an average hash price of $0.06.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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