Posted 2 years ago | by Ben Armstrong
100k New Miners Online
As we reported on Saturday, the bitcoin mining hashrate set a new all time high. Now, there is evidence that more than 100,000 new miners have come online in the last two weeks. The huge surge is miners is strong evidence that Bitcoin has rebounded enough in 2019 to safely say that interest in cryptocurrency is back.
More than 100,000 top of the line ASIC miners seemed to have been switched on. When one does the math, that is more than $200M that major mining companies have brought in just from this surge. Many mining companies have really struggled during the bear market.
Bear markets affect much more in the crypto industry than just retail investors. Companies such as Bitmain saw huge losses as the interest in mining dwindled. Now that it's back, mining companies could be gearing up to once again be in the black.
The run up until the next Bitcoin halving in May of 2020 is off to a great start for both miners and investors. Bitcoin looks to be preparing to challenge all time highs very soon.
See more about this story in BitBoy Crypto's latest video: