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International Business Times
International Business Times
Business
Marvie Basilan

US Miners Selling, Now At 'Make Ends Meet' Point Amid Bitcoin's Crash: Expert

Bitcoin United States Martin Hiesboeck CryptoQuant Mining
Bitcoin mining is suffering from a price and hashprice slump, and miners are selling their reserves to keep operations going. (Credit: AFP)

KEY POINTS

  • All US Bitcoin miners are now "in the red," said Uphold's Martin Hiesboeck
  • He reiterated that the German government's massive dump last week had "nothing to do" with BTC's price plunge
  • Bitcoin plummeted below $60,000 Monday and the hashprice declined by nearly 52%

American miners of Bitcoin, the world's largest cryptocurrency by market cap, have been struggling in recent days, especially after the digital asset crashed below $60,000 at one point on Monday, an industry expert said.

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