Some bitcoin miners have suffered amid the recent market turmoil, but here’s why it may be a boon in the long-term

Originally reported by-The Block

Quick Take

  • Some crypto miners felt the financial burn during the recent bitcoin price crash – at one Chinese lending desk, as many as 90% of miner clients got margin called
  • As some miners were forced to shut down their equipment, network hashrate has dropped, triggering a 15% to 16% correction in network difficulty that’s expected to take place on Wednesday
  • However, some industry participants believe that the current situation may be a long-term boon for the mining market.

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