The cryptocurrency market seems to have survived the winter as the recovery is gathering pace swiftly. On the weekend, a new bull’s wave took the Bitcoin’s price towards $9,000, which is the highest level in 2019 and best price since May 2018. Even though the coin has retreated below $8,800 by the time of writing, it is still 137% higher than at the beginning of the year.
These positive developments have far-reaching implications both for crypto trade traders and miners that earn money by discovering solutions to mathematical puzzles to confirm the network transactions.
While sometimes it looks like miners make Bitcoins out of thin air, it is not entirely true. They have to invest heavily in high-performance equipment and pay huge electricity bills as mining is an energy-intensive process. That’s why Bitcoin miners found themselves under pressure during a year-long bear market also known as crypto winter. Many ...