It's Getting Messy for Crypto Miners: Where Are They Headed From Here?
— Bitcoin, Concerns, Power, Operations, Headed, Mining, Price, Miners, Higher, Messy — 1 min read
Shares of CleanSpark (CLSK 1.43%) and Hut 8 Mining (HUT 3.95%) have dropped 6% and 2.6% from last Friday's close. Kazakhstan announced a new set of tax laws aimed at inhibiting domestic crypto mining. Texas power grid operators have requested all Bitcoin miners shut down operations to help ease the burden on an already-stretched power grid. Riot Blockchain (RIOT 4.70%), which was previously negative on the week, has shot into the green on news the company will comply with requests to curtail energy consumption. Today's move higher for Bitcoin appears to be overshadowing a rather dim outlook overall for this sector. However, a higher Bitcoin price do bode well for miners with existing operations looking to expand Source