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US stocks fluctuated | Crypto Concept stocks experienced a significant decline, with Bitcoin briefly falling below $0.099 million.
On Tuesday, stocks related to Cryptos saw a significant decline, with KULR Technology (KULR.US) and MicroStrategy (MSTR.US) dropping nearly 7%, and Coinbase (COIN.US) falling over 5%.
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The cryptocurrency Industry is facing profit squeezes, and USA mining companies are "making ends meet".
It is estimated that in the third quarter of last year, the Average Cost of producing Bitcoin for all miners listed in the USA was $55,950 per coin, a 13% increase from the previous quarter, with an Average Cost of $106,000 including depreciation and stock-based compensation costs. Bitcoin is currently priced at $101,439.1. This means that if the price of Bitcoin does not rise, it may lead to many miners shutting down their machines or going bankrupt.
