These Six Charts Show How Bitcoin Mining Is Enduring The Bear Market

November mining revenue marks a two-year low for regular monthly earnings.This past month marked a two-year low for Bitcoin mining business revenue.Potential Hash Rate Uptrend ReversalComparing the existing bear market to the previous one in 2018 uses some interesting insights into how the mining industry has actually altered and how it has stayed the exact same. Maybe a small drop in hash rate through late November signals a trend change, but the concern is still open.Collapse Of Public Mining CompaniesPerhaps the most brutal bitcoin mining chart of all reveals the drawdowns of publicly-traded mining companies this year. The bar chart below shows the massacre these stocks have endured.Bitcoin mining stocks have actually been massacred.The Rise And Fall Of Bitcoin Minings AK-47An underappreciated trademark of the existing bitcoin bear market is the sheer decrease in hash rate contributed by Bitmains Antminer S9 machines.

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From hardware lifecycles and miner balances, to hash rate development and hash cost declines, all of these data inform an unique story about one of Bitcoins most crucial economic sectors.Mining Revenue Is EvaporatingWhen bitcoins price drops, its not unexpected that dollar-denominated mining revenue also drops. The fiat rate for those bitcoin has plunged this year, suggesting miners have far fewer dollars for costs like electricity, upkeep and the servicing of loans.As the chart listed below demonstrates, in November, the entire bitcoin mining industry earned less than $500 million from processing transactions and providing new coins. November mining earnings marks a two-year low for regular monthly earnings.This past month marked a two-year low for Bitcoin mining business revenue.Potential Hash Rate Uptrend ReversalComparing the present bear market to the previous one in 2018 uses some intriguing insights into how the mining industry has altered and how it has stayed the exact same. Possibly a small drop in hash rate through late November signals a pattern modification, however the concern is still open.Collapse Of Public Mining CompaniesPerhaps the most brutal bitcoin mining chart of all reveals the drawdowns of publicly-traded mining companies this year. The bar chart listed below programs the massacre these stocks have endured.Bitcoin mining stocks have actually been massacred.The Rise And Fall Of Bitcoin Minings AK-47An underappreciated hallmark of the existing bitcoin bear market is the precipitous decrease in hash rate contributed by Bitmains Antminer S9 makers.