This bear market is proving to be especially tough for Bitcoin miners, but Canaan senior vice president Edward Lu says the industry is “evolving toward a positive long term.”
Other Bitcoin miners such as Core Scientific, Argo Blockchain and Riot Blockchain have reduced their BTC holdings during the bear market.
Many BTC miners are in a tough spot and a few could collapse, but experts say the industry is here to stay.
Ethereum’s imminent transition to a proof-of-stake consensus mechanism will transform its monetary policy, potentially making ETH more scarce than Bitcoin.
U.S. legislators suspect crypto mining is “problematic” for energy use and emissions, while Paraguay is ready to give the crypto industry, including miners, incentives. Democratic legislators from both houses of…