Season 1 Episode 319
Bitcoin dropped below $100,000 over the weekend, raising questions about whether this signals a bear market or simply represents a temporary pullback in the ongoing bull cycle. The cryptocurrency quickly rebounded above the $100,000 threshold, but mining stocks continue to face significant pressure.
• Bitcoin miners are down 35% year-to-date despite Bitcoin reaching new all-time highs
• Hash rate dropped to 670 exahash, likely due to curtailment in Texas rather than geopolitical factors
• Anthony Pompliano launched ProCap, raising $750 million for a new Bitcoin treasury company
• MetaPlanet and Strategy continue aggressive Bitcoin accumulation strategies
• A 6.8-6.9% difficulty reduction expected on June 28th would provide relief for miners
• Hive Digital Technologies acquired a tier 3 data center in Toronto for their HPC subsidiary
• Data center-focused miners appear undervalued compared to pure data center companies
Hit the like button, subscribe to McNally Money, and let us know in the comments if you think the bull market is in trouble or if this is simply a regular pullback.
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Published on 6 months, 1 week ago
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