Bitcoin Mining Just Got 6% Harder While BTC Fell. Could Miners Start Selling?

Impact · against what's priced in

The recent margin squeeze from rising difficulty and falling BTC prices is already largely reflected in the steep 30%+ monthly declines of miner equities. While the projected cooling of the next difficulty adjustment is a mild positive, it does not fundamentally alter the high-risk profile of their balance sheets or the market's skepticism toward their AI pivots.

MARA−0.40

Challenges what's priced in

The price assumes